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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: Doug R who wrote (10383)	1/10/1998 5:27:00 PM
From: ivan solotaroff	Read Replies (2) \| Respond to of 79521

Umm. Doug, I never thought to look at the high of the signal day. Silly bunt. Post-signal runups, in OXHP's and SGI's cases, have been both slow and dramatic. To tell truth, if I had bought SGI at the proper moment of the signal day, I would probably have hung onto it until within a few ticks of what I bought it for--enough to have covered my commission costs plus a 'steenth or two for my little ego--then said, Hell with this cat, and gone out and lit one up. When Esteban bought it, I thought, Better him than me, than just hat to sit back and applaud while it ran up for him, beginning on the 27th. I'm hard-pressed to come up with any rule here; when it comes to comparing one day's bid/ask spread to the b/a of two days later, I have to defer to you--in principle at least. In reality, if the situation occured, I'd wing it until my arms gave out and then bailed. I'm trying to understand the psychological reality of an exhaustion bottom, and base my strategies on that understanding: As I mentioned earlier, it's a bit like Lazarus rising. I mean, God, man, the poor fella's dead, give him a few days to brush off the cobwebs. If he goes running out like OXHP, he's probably a Philistine to begin with. To make matters far more complicated than you care to (the PGDCEB being just one of your concerns): a) SGI wasn't IMO a cat at all, as its original gap was less than 22%; and b) there were three signal days. I am currently toying with the opinion that each succeeding signal should be taken with proportionately smaller goals in mind. That's more than enough. I have troubles with where prices open and close because the MM/specialist can choose the bid or ask to close on. I know uptrenders tend to close near the highs and downtrenders near the lows, but in the case of instant decisions like when to bail out of a falling knife that you're profiting from, Geez ... Ivan