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Rajesh,
Well if all goes well we should see 25 tomorrow. The stochastics that I have
depended on are almost useless now. The trend is my friend & it is down. I am
looking at Aroon and it is giving some good information. The RSI has not made a
failure swing yet; close but, close doesn't count.
JF is working well. I don't quite know what to make of the million+ shares
trading hands today. I have a weekly JF from last Friday of 31.66667. Well it
ain't going to go there my friend. Also with a weekly JF using Thursday
(yesterday) and then the rest weekly data JF is 26.58. So my guess is it will
at least close below 26.58, however on a daily JF I have 27.6875. One could
also say under these conditions that I dought I will see this on Friday.
Last year it came up with a mentor here in Minneapolis that when working with a
down trends, one could take the negative() function and treat the price
movement as if it were moving up. Then follow your same rules you would use
going long. I did a little work with this. Maybe I will do a little more work
on these ideas. We'll see.
Well I had better get to bed.
Before I go I want to add one thing. I hope you view this as someonne who is
relatively new to investing (less than a year), who is trying to use several
indicators (any technical analysis indicator) that will help me resolve one
issue. That being will the price go up or will it come down. Either way I can
form certain expectations of tomorrow and plan my strategies accordingly. My
strategy for this trade is evolving. Right now I want to be able to keep
something in the market at all times and then add to the position as it moves
in my direction. I would like to be able to take up 2 more positions.
Right now if it moves against me I will wait to see how far it will go on a
daily basis. Save my ammunition. If it moves down as expected I will take up
another position somewhere in the $26 dollar range if possible. Once past $25 I
will rest better but will not relax. This is a job & the job ain't over till
it's over. That means work to enter the trade, work to keep the trade, work
while in the trade and work to close the trade.
Better go I can't wait until Friday. Today was a fun day in the market.
Harley Meyer
meyer093@xxxxxxxxxx
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