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There has been a call for a return to discussions about TA and Metastock.
To that end I've attached the chart for LSI to start discussion about
channel trading. I'm new to this type of analysis so I thought I'd throw
this out here for discussion.
I've drawn two upward trends: a long term trend starting 7/24/96 and an
intermediate term trend starting on 1/2/97. The intermediate term has a
slightly higher slope than the long term trend. To create the channel I
used a copy&paste to create a new line parallel to the trend line and then
dragged so that it just touched the highest high.
So now some questions for channel traders:
1) Is this the type of chart formation you're looking for?
2) Is this how you draw your trend lines and channels?
3) Is it common for the intermediate trend to be in the same direction as
the long term trend?
Attachment Converted: "c:\eudora\attach\lsi.jpg"
--
Marc Saegesser
mas@xxxxxxxxxxx ???@??? Sun Jun 08 13:43:50 1997
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From: "tmurrey" <tmurrey@xxxxxxxxxxx>
To: <metastock-list@xxxxxxxxxxxxx>
Subject: Fw: Ignore TMMurrey--here are some stocks.
Date: Sun, 8 Jun 1997 15:43:22 -0700
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Animal mother is a disease: and a weasel: please don't let your children
around him ! they have state laws to put his name and offense on the
interent.----------
> From: Animal Mother <animal_mother@xxxxxxxxxxxxx>
> To: metastock-list@xxxxxxxxxxxxx
> Subject: Ignore TMMurrey--here are some stocks.
> Date: Sunday, June 08, 1997 12:20 PM
>
> I've been watching some of this Murrey math nonsense in stoic silence,
and I think I've had enough. This guy is using the group to plug himself.
It's safe to assume he can't make a living trading his so-called system, or
he wouldn't be to shameless and so persistent in his plugs. Ignore this
bozo, and he will go away. This isn't a forum for bickering.
>
> Here are a couple to consider:
>
> JABIL--strong fundamentals; it's recently broken out of a recent range,
and is reacting. Looking at the Pitchfork with med. line on 5/7, pt. 2 on
5/15, and 3 on 5/29, you see support sustained at the median line, which
indicates further moves up. Warning: 13-day MFI diverges, but has not
broken its uptrend line, nor has 13-day RSI.
>
> VEECO--It has recently reacted, is still in its long term up trend, but
has dipped into the lower half of the Raff Regression Channel drawn from
11/6 to 4/21 and extrapolated through the present. RSI is approaching
oversold levels. Looking at a weekly chart, the news is better. Support
established at the lower RRC, price has bounced off the 13-week exp. MA. 0
debt/equity, 8.4% profit margin (which makes this one not a long-term hold,
unless things get better), 17.4% Annual eps increase vs. year ago, recent
qtr., est. next 5 years 23.8%.
>
> I'm keeping a close watch on my JABIL; it has had some recent high-ish
short interest.
>
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