"I have been waiting for the market to show its line of least resistance, and I believe it did so in Friday's session. The higher low that is showing on the daily chart should attract a great deal of bullish attention in Monday's session, and I would expect to see a quite positive buy surge next week.."
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9 comments:
hey stew
I've been reading up on the HG -i think it might have been theresa lo-anyway she refers to and ADX being over 30 for long and an exit around 50 or so,higher numbers are used for short--i haven't heard you mention ADX or Directional Movement before and was wondering,is that the same as the relative strength indicator you use?thanks alot- i've become smitten with the approach
Like i said earlier. I have tweaked this method quite a bit. I don;t even know if i should even call it 'Holy Grail'.
I love using RSi and MACD. They are my fav. indicators. i have tweaked the "HG" to such a way where i don't use ADX, i use RSI pretty much to determine strength but ADX works really too.
I also, have tweaked it to where i wanna see a pattern of some sort(wedges, triangles, etc).
i have also tweaked it to where i wanna see a strong volume advance (for longs) and then a smooth and steady pullback that tests the 20SMA. If i spot a triangle or a wedge into the 20SMA, i wanna be buying int the apex of the pattern in order to minimize risk in case i am wrong and also in so that i do not waste time and tie up capital for too long. After the Apex, you'll find out soon if you are right or wrong, either it breaks up or down and you want to react accordingly, either you get stopped out or you should to be adding to your exposure to maximize return as you are being proven to be right in your analysis.
thanks stew,that answers it
upside
Anyone who thinks market is going up is a F...ing moron. Market is going one way, DOWN, and the fact that VIX is up is actually an indicator of a bear market, not bull.
Hey hey now. No need for name calling. Try and keep it intelligent.
Having said that, the more people that doubt the rally the more bullish i feel. it's just classic. Even tho i am expecting bullish action that doesn't mean that the bear is over and we will see new highs soon.
As a matter of fact, that's not what i am saying at all. I am expecting a decent size rally. Not sure if you ever traded in a bear market before but even in bad bear markets you will see huge awesome multi week rallies.
And just like tons of doubters of any rallies are seen at bottoms, you will see many of these same doubters convert to the bullish side thinking the worst is over just as the rally is topping out and reverts back into the bear market.
And in case i am dead wrong, hey i will get short again, hey i made over $40K in profits using short positions since late Nov.
So it's not like i hate to short. hahaha! Bull or bear or Raccoon, i don't give a damn, as long as it's a market, i am THERE!
So that's my two cents. Thanks for visiting my blog but please keep it intelligent. good luck to you my friend.
Hi Stewie,
This link doesn't seem to want to work for me. Is it still valid?
MM
hey MM. go to www.hardrightedge.com and look at the bottom of the page for "the 5 minute investor" Bo Yoder. Book mark that website forever dude. Alan farley & Bo yoder, enough said.
hey MM.
Sorry, let's try that again:
go to www.hardrightedge.com, then click on "daily" then and look at the bottom of the page for "the 5 minute investor" Bo Yoder. Book mark that website forever dude. Alan farley & Bo yoder, enough said.
Thanks Stewie, I don't know why it didn't work when I copied and pasted the link into my brower.
MM
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