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Strategies & Market Trends : Technical Analysis - Beginners -- Ignore unavailable to you. Want to Upgrade?

To: Richard Estes who wrote (7848)	1/17/1998 2:58:00 PM
From: ExCane	Respond to of 12039

Richard- In the end I guess it does come down to timeframe. I say buy, short term (I DAYtrade), because SLB and HAL are doing ok, chart shows this MACD crossover that sometimes precedes a good daytrade, not alot of price congestion at this level, though volume is questionable (may be a good thing). When I find a chart like this with the other indicators confirming on a liquid stock, I put it in my radar. I've also found some good trades by looking for indicator divergence then group and market confirmation. My time frame may be the opposite strategy for you because, if I know the analysts love EVI, if the oil svcs start to move, retail & other traders may come in, I daytrade their momentum buying. I don't enter just because the chart looks good, I watch how the market, group and stock acts first. If the oil svcs are rallying & I catch EVI before it is extended in my opinion (intraday), I go long (this is just an example, I've not traded EVI and DO NOT endorse it either way). A holder gets hurt from the same up/down volatility that the daytrader can profit from. Interesting though, ME telling YOU why I like a chart! I'd like to hear your analysis of my analysis of EVI and if you would have called ALD a good short 1/8/98. -Alex BTW- Analysts do mean something in daytrading, watch your intraday movements in stocks that are up/downgraded.