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Strategies & Market Trends : Befriend the Trend Trading -- Ignore unavailable to you. Want to Upgrade?

To: go4it who wrote (2738)	1/24/1999 6:04:00 AM
From: Ken Adams	Read Replies (1) \| Respond to of 39683

Hi Chuck, For what it's worth, this is the way I see MAT right now. It may be forming a double bottom, but not one I would probably buy. Timely can't show all the indicators I can look at with WOW, so you'll just have to trust me on this. The glaring problem, IMO, is the fact that OBV has fallen to new lower levels at the current price than it was back in December. Suggesting more folks are selling. MACD has been rising since December, but, just in the last few days has turned back down. Note, this is my version of MACD which uses a 5d and 34d EMA. RSI has risen pretty steadily since the December lows and has not confirmed the lows in OBV, but it doesn't always confirm OBV anyway. With the 200 day MA falling, as well as the shorter MAs, I don't think this is worthy of too much more study if you're considering it as a long. Surely there are much better candidates out there. I'm going to spend some time today in search of same and will post here later. KLA PS... IOM may be the better candidate. I like the action on Friday where price took a dive then came back to close at its open, all of it in the upper 1/3 of the day's range. I also use a combination of the 34d SMA and a 34d WMA. Both of these are rising and the closing price was above the SMA. If it ticked up at Monday's open, I might be inclined to grab some for just a quick 10%, maybe even that same day.