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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: Matthew L. Jones who wrote (9225)	2/26/1999 11:21:00 AM
From: backman	Read Replies (1) \| Respond to of 43080

matt: decision point provides lots of "indicators", and a daily commentary...have not found the interpretations particularly helpful, but the indicator summary, for those of us who are "tech indicator junkies", are nice to have in one place...having a running summary of hi/lo, advance/decline, etc is nice...includes TRIN (from ELDER: TRIN tracks the ratio of adv to decline stocks and compares it w/ the ratio of adv to decline volume. It works best when it is smoohted with an expon MA, such as 13 day EMA if you want samples of decision point commentary, PM me... david

To: Matthew L. Jones who wrote (9225)	2/27/1999 2:42:00 PM
From: John Lee CA	Read Replies (1) \| Respond to of 43080

Matt, PMFJI but I am using IQ Charts and find them very useful. Costs under $40/month and provide real time charting with chart intervals from 1 minute to monthly. On price chart you can overlay various indicators and above the price chart you can display even more indicators. A favorites list can be displayed along the left side that shows various indices (I use dow, OEX, Trin etc) and a list of your favorite stocks. These update real time once per minute. What I am trying now and feel pretty good about is using the 15 minute chart to monitor the OEX and plot a 15 period and 30 period MA's. I use the 15 to 30 cross overs to pre-qualify my entry and exits. So if the 15 period crosses and/or is above the 30 I will consider entering a long position. Vice versa for the short side. BTW, I am only trading options and looking for 1 day to 2 week positions. Above the price chart I also display volume and RSI. I use RSI to further refine my entry/exits but not on a systematic basis. I try to enter as close to the 15/30 cross over as possible and exit either on the reverse cross over or when the RSI appears to have peaked or bottomed. This was very effective last Wed 2/24 in detecting the huge market drop late in the day. I exited and have been out since then. It also kept me out of the market even though Thurs close looked good but OEX 15/30's never fully crossed and it turned out to be a "head fake". Fridays close is right at cross over but I will wait for Monday's confirmation. One other thought, if you are able to enter/exit right at the cross overs, the whipsaw should not cause large losses. In fact, in theory you should only loose a max of commissions and slippage. So for what it is worth, I strongly recommend you look at IQ charts (www.iqc.com) and develop a system about their indicators. They are very good on the support side of things also. I am new to this so if someone can critique the "simple minded" idea above or enhance it I would be appreciative. John