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

To: HairBall who wrote (1386)	12/11/1998 4:30:00 PM
From: dennis michael patterson	Respond to of 99985

LG I just read this post. I take it 8910 is the number. No problem.

To: HairBall who wrote (1386)	12/11/1998 11:02:00 PM
From: donald sew	Read Replies (1) \| Respond to of 99985

Larry, It is rare that one nails the low of the day, but using chart patterns, tick readings and other intraday devices, it will help, but thats another extensive subject. Also it is not necessary to hit the low exactly either since the bounce normally will more than cover the fudge factor, keeping in mind that most systems are linear and do not signal until there is significant movement. What I normally do, and has been very successful, is that on the buy-in day I look for the next minor support line. It becomes a bit subjective, but lets take today which closed about 100 points above the lows - if Monday was to get to todays lows, that would be a good point. I also look for intraday double bottoms/tops. 50% retracement would be from the HIGHS of 9380, so that would put it at 9055. I have to review the charts again since you bring up a valid point that the peak in question is slightly below 9100. Seeya