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Mike,
You've got it. Over the years I've learned to place more faith
in the trend channels then in all the indicators. If the channel
holds, I'm in at a lower price. If it doesn't hold, I'm out with a
small loss. If I wait for the indicators I'll probably be further
from the bottom of the channel on entry giving a larger potential loss
if I'm still wrong. I'll also admit to being biased by my large
profit in IOM last year.
I agree that a more conservative play would be to wait for all
the signals you mentioned, but then I've never been accused of being
too conservative <G>.
Jim
-----Original Message-----
From: michael.arnoldi@xxxxxxxx <michael.arnoldi@xxxxxxxx>
To: JimGinVA@xxxxxxxxxxxxx <JimGinVA@xxxxxxxxxxxxx>
Cc: metastock-list@xxxxxxxxx <metastock-list@xxxxxxxxx>
Date: Sunday, January 04, 1998 6:56 PM
Subject: IOM
>jim i got your gif chart of iomega. your chat looks very
professionally
>done. what i don't understand why you think of going long on monday.
>here is why i question your motives.
>
>the blue dotted moving average is below the red dotted moving
average.
>tema cci is now below zero.
>tema(s/c) is now below zero.
>r-sqd is turning down ( possibly loss of downside momentum ?)
>the only positive that i see is that price bounced off the long term
>support trend line.
>
>i look forward to hear from you.
>
>mike
>
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