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

To: j g cordes who wrote (30009)	5/31/1999 9:27:00 PM
From: Doug R	Read Replies (2) \| Respond to of 79237

Jim, The scans we've worked out for the thread vary in success as to the particular situation scanned for AND the current market condition. As far as the "project" goes, the scan hits are subjected to a rigorous process of elimination using criteria for technical and chart activity beyond what can be coded into a scan...such as: Message 9864988 I have to say that I am very confident in the capability of the scans we've developed. I'm also very confident in the level of knowledge and experience of those participating in the project. If you haven't visited the project thread yet: Subject 28326 Message 9687938 Here there is a trading strategy for entry that minimizes exposure to losses. Wait for price to initially move over Friday close to enter. Go with those that move over Friday close on good volume.* Don't fail to take profits. Once the price is over Friday close, use that price as initial stop and use trailing stops as the move up progresses. Message 9853123 *Volume is the final piece of the trading puzzle. If a project stock trades with a daily avg. of 100,000 shares AND hits 60,000 in the first 90 minutes of trading (or if the avg is 60,000 and it does 30,000 or if it's already over avg daily with plenty of time to go in the day) AND moves over Friday's close AND the bid/ask size is supportive of any initial uptick(s), it's a buy. The scans and the follow-up post-scan work have already identified such a stock as one with a high probability of substantial % price increase in a short time. The scans and the follow-up work is geared to bring an appreciable number of stocks with the potential to move from 10% to 50% within a week. There's also a good history of continued gains that go beyond a week for many of the stocks that are brought out by the scans we use. But all this could be taken as coming from a biased perspective. After all, a large part of the techniques the project contributors use came out of my own work. But it's hard to argue with results where 20% of the stocks chosen moved more than 10% in a week or less during the kind of week we just came out of. The volume and price requirements for entry should have kept anyone out of those that succumbed to the market's weakness while giving them the opportunity to make their own decision to participate in those that were either profitable or those that limited losses to less than 5% including commission. In other words, we got us a convoy! Doug R