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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: freelyhovering who wrote (130)	1/22/1998 7:01:00 AM
From: Cornstock	Read Replies (1) \| Respond to of 29382

Hi Myron. Well here's my rookie take on IDMC. I looked at the chart, and this is a classic stock that really likes to challenge its upper bollinger bands. Everytime is gets outside of the bb, quickly reverts right back in. At that time that happens, the stochastics and rsi telegraphs the change in momentum as it flattens out and turns down when it is above the bb. This has been a strong stock, and has an upward bias. When it started the decline (to get back into its bb), it often only declined to the 20 day ma, and then starts up again. It sure tells us when to buy and sell. Here are the dates to look at from a historical perspective: June 4-6, August 7, Sept 5, Sept 30 (didn't happen this time), Oct 10, Nov 14, Jan 7, 1998. These are all upper band breaks or touches at that level, and it doesn't make any difference whether it was a high, low, or intraday quote. In all cases, the Stochastics flattens and down it comes. It's neat. Looks like a great trading stock. Right now it has been on the decent from the Jan 8th bb break. The stochastics is still in a downward slant but as soon as there is the slightest turn in RSI or Stochastics, it will start up again (if its recent history repeats itself). One more thing, if it happens to break its lower bb, it should start its upward climb immediately. It might take a day, but I wouldn't hold out. I'd buy immediately. However, right now, no indicator has started to turn. Lets watch it. Now I haven't downloaded yesterdays data, but tonight I'll bet you that the stochastics will show a turn up again, and it will be on its merry way again. I'll download the data this morning. Now, remember........you get what you pay for. If I were me, I'd ask the Padre. Often times he tell me I'm all wet - and mostly he's right.