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

To: Lawrence Burg who wrote (6242)	4/22/1998 5:04:00 AM
From: TATRADER	Read Replies (3) \| Respond to of 7396

Lawrence, I never look at the fundamentals, only once in a while I might take a passing glance at the PE... HDIE.... Every technical trader sees things a bit differently, but I see a triple left shoulder, a Head and a triple right shoulder with a neckline at 3.50....The base of the pattern is 1.50...The minimum price objective I am looking for is 2.00 on the upside, and VERY SOON...On Tuesday the market makers were trying to get the shares from the weak hands...Those who bought on Monday at 4.00 saw their profits, disappearing, and sold to them on Tuesday....Note how the stock still made a higher high and a higher low...Remember always, as long as a stock makes a new high, and the daily low is not breached, the trend is your friend...I am a devoted follower of the ADX indicator...I try to catch stocks just starting to trend where the ADX is in the early 20's...But you have to take so many other things into consideration outside of ADX...You have to study patterns, overhead, where other traders who entered earlier may decide to take profits, you have to plot where the professional traders will buy and sell using indicators such as Gann Retracement, Fibonacci Ratios, Moving averages, Bollinger Bands, and Envelope channels...The list goes on..And then you need to put the story together....MACD Histogram shows a trend in this stock...It is now up for 3 days straight over the zero line and the Smoothed rate of change continues to move up with a reading of 144 as of yesterday....Regards, Mark