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

To: ACAN who wrote (24954)	1/4/1999 1:42:00 AM
From: Doug R	Respond to of 79230

Allan, According to the new 89, 3, 5 rule for MIMBOs, ZITL would have to get over 17 1/8 to set up the MIM. The 89, 3, 5 rule is there for safety by eliminating false positives more effectively and removing more subjectivity. It's a tough rule...but fair. Also, just because a stock is not a MIMBO does not mean that it is not a good trade. The focus of the MIMBO is to find stocks with a high probability of returning to the all time high...preferrably ones with a very large % move ahead of them. You can't expect to find many truly decimated stocks with a miracle turnaround in the works and so far the list I have is actually very large. The size of the list alone is a great forward indicator for the overall market IMO. There will be some failures on the list I'm sure. To spot them, I'm going to use the 89, 3, 5 again as a signal of failure on a drop below the 20 value. There's no reason for a true turnaround moving into the period of greatest price acceleration to become oversold on that indicator. Ok, we have the rules set up, we have a list that will probably grow. Anybody out there want to find the fundamental reasons behind these guys' technical promise (just in case it gets boring and we need some reading to kill time)? Doug R