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

To: Chris who wrote (14703)8/18/1998 8:55:00 PM
From: dennis michael patterson  Read Replies (1) | Respond to of 42787
 
Chris: is there any way to project whether the rally will go to 1110 1120 or 1130? Is this where Fibonacci comes into play? I recall reading in William X. Scheinmann's book ("Why Most Investors are Mostly Wrong most of the Time"-- fabulous. He won the techicians award a few years back) that 3 is the key number in all stock things!



To: Chris who wrote (14703)8/19/1998 3:34:00 AM
From: Smooth Drive  Read Replies (1) | Respond to of 42787
 
Hi Chris,

Regarding Dell, I'm thinking the same. Today it formed a rare spread triple top buy signal:


118  X                            
116  X O                          
114  X O             X            
112  X O X   X       X            
110  X O X O X O X   X            
108  X O X O X O X O X            
106  X O   O X 8 X O X            
104  X     O X O X O              
102  X     O   O X                
100  X         O X             
99   X         O


In 1965 Robert Davis and Charles Thiel Jr. researched and published Profit and Probability relative to P&F charts. They established 16 entry/exit points, and bought on every simple buy signal and sold on every simple sell signal. The spread triple was notable because it: a) Only occurred 2.4% of the time; b) was profitable 85.7% of the time; c) average hold was 7.7 months; d) % of trades yielding losses was 14.4; e) average size of loss was 7.3; and f) average time in months to realize loss was 2.5

It's somewhat overbought, but ---- we shall see.

Take care,

Eric



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