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On Fri, 29 Aug 1997 13:23:06 -0400, you wrote:
>I don't like to use RSI and Stochastics when a stock is clearly
>in a trend. It never seems to work. The fundamentals of APEX
>are very good. Check IBD for ranking. It has an EPS rank of
>99 and a price performance rating of 99. It is currently being
>accumulated and is in a very strong group. Do you think the lower
>price to buy will beat the thirty I recommended?
Not at all. I think 30 is a great price for this stock. The trouble
is, if you buy today you will pay 40. I think that if you wait you
might get it for 33-35.
As for RSI and Stoch not working on stocks that are clearly in a
trend, I beg to differ. Take a look at my chart of IOM
http://www.white-crane.com/iom.htm. Notice how the Stoch(9) has given
a buy signal at the end of every single month since March. And every
one of them was a good time to buy.
I do have a problem with RSI. When a stock is on an uptrend, the
usual rule about 80/20 lines does not work at all, since the RSI will
rarely fall below 20.
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