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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less..... -- Ignore unavailable to you. Want to Upgrade?

To: bazan who wrote (2228)	8/7/1998 7:37:00 AM
From: TATRADER	Read Replies (1) \| Respond to of 59879

For a 1,2,3,4.....A stock needs to have three lower lows, or 2 lower lows and an inside day...An inside day is when you have a lower high and higher low...Check out KMAG that I entered yesterday and traded profitably...Usually the stock should be trading above its 50 day moving average...ADX should be 15 or higher... Cooper usually likes his 1,2,3,4's to have an ADX over 30, with the +D1 greater than the -D1...But I have been using it lately for bottom hunting purposes...ADX much weaker when you bottom fish... On Day 4, you buy 1/32 above the day three high ONLY...If stock doesn't show any upward momentum on day 4, you forget about it...That means the entry on KMAG yesterday should have been at 2 15/16.... I am buying oil stocks again since you have a rectangle pattern on the OIX of 280 by 255...The Difference is 30...Subtract from 255 and you get the bottom on the OIX at 225...Yesterday it closed at 229...It is getting close, and when I saw some of the stocks turning, I envisioned that the traders are ready to move them up before we hit the technical bottom.. On the otherhand, the SOX index(I just looked at a free chart)...I don't have it in my regular charting program.. Looks to me like a Head and Shoulder Bottom with one left shoulder and two right shoulders, with Head at 230... Left Shoulder reading is 250 by 270 Double Right Shoulder at 250 by 270... Neckline at 270....That is the major break point...Using the head to the neckline, we have a difference of 40 points...Add to neckline at 270 and you get a 3-6 month target of 310.... Regards, Mark