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

To: Dr. Stoxx who wrote (3048)	2/13/1999 12:31:00 PM
From: Ken Adams	Read Replies (1) \| Respond to of 39683

TC, I quickly visited the Litwick site the other day. My first thought was that it was geared to futures traders, which I haven't done for over a year, so I quickly lost interest in it. I just went back over there for a longer look and realize I was wrong. Not sure just how I feel about Candlesticks. I was on a Prodigy site a few years ago that had huge participation. One of the guys there took on a several month long study of the validity of this method. He shared most of what he did, got lots of valuable help from others along the way. However, he concluded that the patterns just weren't enough better than traditional TA methods to stay with it. Interestingly, I've used "stix" on virtually all my charts for years. But I do it strictly for the quick story they tell about price direction. I couldn't tell a doji from a doggy. The site I'd like to find (and I'm sure it exists, I just don't where) would allow me to set my own criteria for scanning, as I do now with Quotes Plus or WOW. Then look at the entire market and give me a list. If I could find that, I could just about abandon keeping all this data on my drive. I'd also be able to stop wondering if WOW was going to remain Y2K compliant without some exorbitant upcharge. I'll be interested in your feelings concerning litwick.com. Ken

To: Dr. Stoxx who wrote (3048)	2/13/1999 12:51:00 PM
From: Ken Adams	Read Replies (1) \| Respond to of 39683

TC, I'm seriously considering PCMS for an "add on" trade. I'm currently holding it (perhaps unwisely) from 9-5/16. My plan is to put in a buy stop for Tuesday at 7-5/8. This is one tick above the high for Friday and would signal a reversal. It would cause stochastic to turn up from its current low level, confirming the signal. OBV remains very high. Right now, price appears to have bounced off the flat 40d EMA. On my WOW chart, I use a smooth 34d combined with a weighted 34d. There, price is bouncing off the smooth 34d. This would average me down to about 8-7/16, which shouldn't be too hard for price to reach on a bounce here. If it returned to 10, my gains could reach about 18%. Put a stop a tick under Friday's low, or 6-15/16. Your thoughts? PCMS: timely.com KA