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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: Doug R who wrote (21802)	10/2/1998 3:19:00 AM
From: Doug R	Respond to of 79308

Somewhat edited discussion of SPYG's short term prospects (long term not yet undermined): Milesof: how bad is the damage? Tiric: Have you looked it over yet? I just got going. Will check now. Milesof: well we are definitely to the downside of that 10-2 intersection, we got one short term support at 74xx and if that breaks , not sure after that Milesof: spyg seems to have slipped below its triangle as well... Tiric: SPYG is what I'm checking Milesof: looks like 8-17 line is still holding, it is around 11 Tiric: A negative day on the 13, 8, 8 stochs tomorrow would be an exit signal. Tiric: The 4, 2, 3 SMI broke below a head and shoulders neckline today. The market really stinks here. Stoopid (expletive deleted) hedge funds.... Tiric: SPYG's 2, 1, 2 SMI hit downtrending resistance on the move up yesterday and today the overall market was too nasty to allow it to break above that line Milesof: yeah, can't afford to let it fall too much further Tiric: The negative reaction of the 2, 1, 2 led to the H&S breakdown in the 4, 2, 3 Tiric: The 2, 1, 2 also broke below the uptrend that was allowing it to be a buy. Tiric: That was an accelerated uptrend. The initial 2, 1, 2 uptrend is where it closed today. Milesof: so i need a bounce tomorrow, or dump by end of day... Tiric: That gives it a shot at recovery so if it doesn't...you're right. Tiric: The 13, 8, 8 stoch is also in the same condition. A weak day will cause a downward Xover. Milesof: k, will talk at ya over the weekend Tiric: A recovery will give it a shot to put in a knee. Tiric: I imagine the whole market is in similar shape.. Milesof: will talk to ya then Tiric: Ok G'nite

To: Doug R who wrote (21802)	10/2/1998 9:24:00 AM
From: Magnatizer	Read Replies (1) \| Respond to of 79308

Doug ran a system test on MSPG for optimal exit. It appeared the best returns (as in daily) on MSPG was an exit when the low for the day broke the 13 sma. Win/Loss ratio was 4 to 1 with an average gain of 74.176% over 17 day hold. The short term hold exit gave up 6 wins and 0 losses with a average hold time of a bit over 2 days and a average return of 4.415%. so I took the %returns/days to hold and the longer holding period was the clear winner in MSPG case. I am pretty sure in a stock which does not have the upward power of MSPG would be a better short term (2 day) play. ht david