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Strategies & Market Trends : Lizard King's Trading Swamp -- Ignore unavailable to you. Want to Upgrade?

To: Uncompaghre who wrote (5014)	3/11/1998 7:42:00 AM
From: TATRADER	Read Replies (4) \| Respond to of 7396

Uncompaghre, Volume only figures in with overhead when using the directional movement indicator...If I see present volume levels not at a clip where they will take out that overhead, I will sell a stock and wait to see volume confirmation before re-entry... On MIND there is some good overhead awaiting in the 19.50 area...However, MIND is a great stock...If I were a buy and hold person, I would buy and hold this stock for the longterm at these prices...The stock is in a pattern from 19.50-15.00....I would re-enter in the 19.87 area on heavy volume...Should pick up at least 4 points on next breakout.. Basically, on ADX, you use two indicators...If ADX contiues to rise, or stays at same level,you should be fine long-term...MIND continues to rise with its ADX..I like that...Further, use your Relative Strength indicator, to see if it is making higher peaks than the last time the stock attacked the 19.50 area...You will observe that MIND did make a higher peak...That tells me this stock is healthy and that it is just a matter of time before we break 20.00...However, sometimes, if I see a faster moving stock, I will sell one temporarily stuck, to try and make a quick score, and then move back to old faithful, MIND... Right now, I have MIND in a trading range from 19.65-17.76...There seems to be good buying by Fundies at lower levels... Regards, Mark