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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Jack T. Pearson who wrote (9276)	6/2/1998 12:25:00 AM
From: Lee Lichterman III	Respond to of 42787

Don't know what could go up unless a sucker rally. I just ran many of the sector indexes on the NASDAQ and they all have Gravestone Dojis for last 2 day's activities.

To: Jack T. Pearson who wrote (9276)	6/2/1998 1:18:00 AM
From: Chris	Respond to of 42787

lots of damaged stocks out there. need some basing to "repair the damage" before any talk of rally. right now, either sit out (and review your trades) or look into shorter term trading.. i will attempt to do shorter term trading once the BASING action is defined. we are still in dowwntrend in the mkt. i dont have a clear sense of where our supports and resistance are. once you're in basing mkt mode, use your overbought/oversold osciallators, not your momentum indicators (useful in strong up/down trends). this is when you have the "correct usage" of overbought/oversold. before in a bull rally, you might get overbought-> but the mkt still continues to go higher. that is because the underlying force is up. right now, we have NO underlying force. it's dead neutral (when we get that basing period).. then those ob/os oscillators will work perfectly. know when to use your indicators. know what type of mkt you're in. we can only move in 3 directions: (up/down/basing) again, it's all done by experience. you're not going to be overly successful on the first try. why? how often does this mkt base? not very often. most of time, this mkt is moving higher. ie: not a lot of real practice for our basing methods/tactics. i will try out my "own techniques" as well. very new to this game, but i will try.