Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Dr. Stoxx who wrote (4026)	6/1/1999 3:35:00 PM
From: Roland Ott	Respond to of 39683

O dear! I haven't watched closely enough this thread - and now I am in the SWS trap with a long position...

To: Dr. Stoxx who wrote (4026)	6/1/1999 4:28:00 PM
From: Charles Kalb	Read Replies (1) \| Respond to of 39683

Thomas........I have a couple comments/questions on SWS. From looking at the chart through Friday's close on SWS (the previous trading day)I would have been very close to calling SWS a Classic BTTT Long since it exhibited a retracement from a quite strong two-month uptrend and the price seemed to be holding nicely just above the 20 MA for three days. All that was needed was for the 14-p Stochastic to turn upwards. Surely SWS is not a Classic BTTT Short but a short as defined by your new short criteria. It seems to me that all of today's weakness is intraday and not an obvious carry-over from the previous trading day(s). I couldn't find any news which drove today's downtrend. Any insight you can share on what made SWS a good short today other than it looked weak this morning and you jumped on it? I'm curious because I wonder how the Classic BTTT Short and your new short system are going to resolve themselves. Will one be a subset of the other (rhetorical question)? A further observation which might be of particular interest to Roland who is long SWS is that today's low of 57 was almost exactly at the 61.8% Fibonacci retracement of the gain from the low on 4/20 to the high on 5/20. Perhaps a near-term bottom has been put in. Charles