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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (1150)	12/10/1998 10:46:00 AM
From: TRINDY	Read Replies (2) \| Respond to of 99985

Look at the oil drillers to see how your FA would have helped. In my view the FA was holding strong while the TA was indicating grave problems ahead. Luckily I sided with the TA. Good thing, too, or there wouldn't be any Xmas at my house this year and a few years after. I don't wish to sound angry, but tell me how sole attention to FA would have kept you out of the drillers crash. I think you have to pay attention to both.

To: Haim R. Branisteanu who wrote (1150)	12/10/1998 1:10:00 PM
From: Monty Lenard	Read Replies (1) \| Respond to of 99985

Haim, I respectfully disagree that TA failed on ERICY. Mine said sell ERICY 12/2/98. Now it is a very quick indicator but there was another warning yesterday with the shooting star candle that was a retest of the falling window that occurred on 7/27. It tried to penetrate that window on 11/27 and 12/7 but failed both times. Anyone should have sold when those 2 retests failed and waited to see if it had strength enough to penetrate that window before reentering.. Also, notice the volume on the way down off the 11/27 test vs the gapping up on low volume subsequent to that. Also draw Fib lines off 3/4/98 low to 7/20/98 high and look at where ERICY will hit resistance. Same place it failed on 3 attempts in 2 weeks! How is that for Monday morning quarterbacking? <g> Best to you Monty