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Earl,
Thanks for the pointer. Much appreciated. Will now
try to see if I can put this as a condition in the
exploration itself as a pre-requisite.
The bullish market has to a large extent helped in
making this workable. As and when the market cools
down further safeguards will need to be put in.
Regards
Rakesh
--- EarlA <earl.a@xxxxxxxxxx> wrote:
> Rakesh,
>
> One indicator I check very carefully when buying
> retracements is volume. I want to see volume
> declining on the retracement and picking up on any
> move up. I use On Balance Volume as a very quick
> guide and then read the individual volume bars if a
> security's OBV looks interesting. I generally don't
> buy stocks making fresh lows, however were I to
> consider doing so, I would want to see a large
> volume divergence on the new low. I would look for a
> setup in three steps: 1) some bars back a big
> decline on very high volume (the washout) and 2)
> several days of decline to a new low on very light
> volume, and 3) a move above the high of the low bar
> on strong volume with a stop at the low.
>
> DHOM had a washout volume day a few days ago but the
> price bar was too tight and barely made a new low so
> the washout is suspect. Volume has dropped on the
> lower lows, however it remains above the typical
> volume prior to the washout day. Caution is
> warranted
>
> VITA has seen increasing volume on the recent down
> days. Caution is warranted.
>
> OLGC ditto.
>
> ROIA ditto plus ragged volume.
>
> Not saying that one can't make money here, but these
> are not the king of low risk entry which I seek.
>
> Earl
> ----- Original Message -----
> From: Rakesh Sahgal
> To: realtraders@xxxxxxxxxxxxxxx
> Sent: Wednesday, November 17, 2004 8:54 PM
> Subject: Re: [RT] See gif---Just for fun!
>
>
>
> Following look reasonably safe to enter, from a
> chart
> perspective only. Dont know about their
> fundamentals.
>
> [1] VITA
> [2] OLGC
> [3] ROIA
> [4] DHOM
>
> Any opinions?
>
>
> Regards
>
>
> Rakesh
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