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Gold/Mining/Energy : Position Trading in Canada -- Ignore unavailable to you. Want to Upgrade?

To: triplehrw who wrote (960)	4/19/1999 10:42:00 PM
From: keith massey	Read Replies (1) \| Respond to of 2259

Hugh I am seeing no definite signals on AC. A lot of TA people trade of the indicators (MACD, RSI, etc.). I like to look at trends, support and resistance levels, classic patterns (e.g pennants) and candlestick patterns. I find that most indicators lag the movements but classic patterns, etc. can help predict the very short term future of a stock. I got Metastock right from the company equis.com Although I use scans to find movers I usually already know who the movers are by following CSW during the day. I find a technical analysis program (e.g. Metastock, WOW, tradestation) more useful for following a large group of stocks. Pick 100-150 good stocks in different sectors. Spend some time on each chart and draw in key resistance and support levels colour coded for their power, trends line, 50 and 200 moving averages and anything else you think you want. Once this is done every night you can bring up the 100-200 charts and flip through them very fast. All of the lines, notes, etc stay on the charts so the ones that are ready for a move should jump out at you. If they don't look ready for a move ignore them...they will be there tomorrow. I personally look for stock that are approaching key resistance/support levels. Once I have a few stocks that I think are ready for a move I do a little more indepth analysis on them. Best Regards KEITH