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Maybe this will be obvious to everyone else, but up until this weekend,
any information that I have read regarding mutual fund investing and
trading states/implies that candlesticks are not a charting option
available for mutual fund analysis. Then this weekend, I accidently
chose the candlestick option on a weekly mutual fund chart and it
produced candlesticks - gee whiz! And then one of the recent posts (by
one of the subscribers playing with regulation-size balls - I forget
who) professing the overwhelming power of candlestick charting got me a
thinkin'. Can/should I use 'em?
Later the same day, I just happened to run across some information on
the FastRUBE trading software that augments Investor's FastTrack.
FastRUBE recommends using candlesticks on weekly and monthly fund charts
as an integral part of it's fund selection process - huh? I guess it
makes sense, since there are open (actually, the close for the first day
of the week / month / period), high, low and close (the actual weekly /
monthly / period close) values available.
But are the candle patterns interpretable in the classic sense? I have
noticed that there are what seems to be an inordinate number of gaps, no
doubt because of the use of the first-day's close as the open price.
Comments appreciated from the candle aficionados.
I'm gonna try to figure this FastRUBE thang out and try to set up some
similar systems myself - while I'm learning how to use candlesticks. Are
their any other mutual fund traders on the list that have set up a
FastRube-type fund ranking and selection system using MetaStock or
Window on Wall Street? Any guesses as to what the AccuTrack/Relative
Strength formula might be? After 4 years of being a bull market fund
trading genius, I am only now tinkering with setting up and testing
automated trading systems.
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