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Strategies & Market Trends : Stochastics -- Ignore unavailable to you. Want to Upgrade?

To: Wayners who wrote (286)	2/27/1998 12:14:00 PM
From: Wayners	Respond to of 927

This is a reponse to a private e-mail to evaluate Tracor--a defense contractor. With TTRR the short term uptrend (12 day moving average) is up making it likelier that it will be able to penetrate the overhead resistance at $31. The long term trend is very positive. 5 day stochastics are oversold, but in an uptrend and even a downward hook--it doen't mean anything except that some people are going to take profits. The volatility is increasing--it hasn't even peaked yet lending more support to it breaking above $31. No I wouldn't short it here, but if I did I'd put in an order to buy to cover at just past $31.

To: Wayners who wrote (286)	2/27/1998 12:17:00 PM
From: Mark	Respond to of 927

Wayne - I really appreciate the detail in your response - lots for me to think about. Like you said in an earlier post, you have to know what sort of timescales you are working to. I'm basically a > 2month investor, who'd love to find a Dell for a 5+ year play ! I'm beginning to get a feel for MA's (still early days), and was encouraged that you put so much faith in them. My main problem is that I am still ruled too much by my heart rather than my head. Annoyingly I think I could pick stocks for other people better than I can for myself. I guess it's easier to be objective that way ! I'm therefore looking for TA, and MA's to start with, as a way of bringing more discipline to my decision making. I doubt that I'll ever abandon FA as the safety net, but would like more TA knowledge to help with timings. I agree with your (more detailed) reads on SFY and TMAR. SFY still needs to build a base, though this might have started. TMAR is probably the more likely to make short term up-moves. However, there's still a lot of negative sentiment to overcome in the oil/gas sector. Thankyou for all your hard work at this thread. Mark