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

To: David R. Evans who wrote (8246)4/1/1998 4:32:00 PM
From: Dick Brown  Read Replies (2) | Respond to of 12039
 
I probably make more mistakes than anyone else but I have to comment on ZEUS vs IMG..What I see quickly you would be buying IMG at resistance, not good , and buying ZEUS close to support, good.
The IMG hasn't been able to crack resistance around 12.07, 12.18 and 11.875.. why would I buy now hoping it will crack those levels less than a point away??..Anyway, thats how I think, for better or worse..
Hope you are in ZEUS and not just looking at it<GG>.. Good Job..IMO, good old fashioned chart reading beats all..It doesn't matter if its subjective, if you are good at it.. Nothings faster than price..Anyway most of the systems here are built on prejudices anyway..Makes no difference..if it works , is all that counts..
Dick..



To: David R. Evans who wrote (8246)4/1/1998 4:39:00 PM
From: Spots  Respond to of 12039
 
Thanks, Dave. Actually I wasn't so concerned about the effect
of volume on the validity of the TA; I was concerned about
being able to exit when you decide to make the move out.

Of course if volume explodes on a run-up (or run-down), maybe
not a problem. Take IMG yesterday where the spread was only
about 1/8 but total volume was (I think) under 4000 shares.
I'd hate to hit a stop and be selling 1000 shares into that
kind of volume. My gut reaction would have been not to set
that trap for myself in the first place and look elsewhere.
Of course this is a personal decision, that I understand;
I was just looking for input, reasons, rationale, etc.
I have a long way to go to get to the point of judging
what's likely to matter and what's not.

Thanks for the input.

Best regards,

Spots



To: David R. Evans who wrote (8246)4/1/1998 6:32:00 PM
From: F Robert Simms  Respond to of 12039
 
To add to what Dave said about the volume drying up before a big move I would point out that when the volume is light that means that there are no sellers or buyers. If a bunch of sellers or buyers appears then they can swamp the other side. The sudden movement can attract attention and others will pile on. If the stock is strong and in a good environment then the probability is good that a strong upward movement will take place.

Best Wishes,

Bob


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