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Re: Walkingshadow post# 2732

Saturday, 04/29/2006 8:31:27 AM

Saturday, April 29, 2006 8:31:27 AM

Post# of 17625
WS, I went through your list during some quiet time. As it turns out, we think pretty much alike, but I have not had the success I would like. For me, it still is a matter of controlling emotions and lacking patience.

I have not had too much success with #1. I spent a few years reading IBD and the ways of Bill O'Neil. As I wrote to another iHub member some time ago, we had many instances in the past couple of years where we got the buildup in distribution volume over a 2-3 week period, only to watch the market move up again. This particular poster mentioned that he had backtested O'Neil's distribution strategy and that it no longer worked, which is why a think your huge spike ultimately may be the way to go.

I need to review your Stochastics setting; this is an indicator I have not used that much the past couple of years as I am more into MACD and RSI, but I will review more closely.

The P-C is another tool that was often reviewed by IBD. I started paying more attention to it in the past year, but again had mixed results. I like your approach with the dual moving averages. Would you mind sharing that link, as I would like to ensure that I am looking at the same thing as you. Thanks!

I'm with you on all your other "indicators," especially #7. LOL. I have a number of books on Jesse Livermore and other speculators of that era and they all have their stories similar to your #7 -- great stuff! The "magazine" indicator also works. Likewise, if Cramer's show and all his booyah-yapping drones aren't the sign of a market top, I do not know what is.

As for me, I'm pretty much a breadth guy -- NASI, BPSPX, NYAD, NYUD and the like. Initially, when I began following the markets using TA just three years ago, I was more sentiment oriented -- and paid dearly for it. Sentiment now is just a small part of what I review, with the emphasis on breadth. I do track the COT data (S&P 500, x. $250). Overall, I'm still not where I need to be in evaluating the market, but feel like I have made some strides. Clearly, this is one of the best all-time learning opportunities.

Meanwhile, anything else you could share -- including your P-C chart -- would be greatly appreciated. Thank you for the exchanges.

Rich




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