Re: Tape Reading

["kevin miles" <pompatis@xxxxxxx>]

My recomedation, for what it is worth is to sit 
and watch the charts unfold, realtime.  this is tape reading.  do it 
long enough with enough focus, and you will develope your own style and 
methods.  takes time though, and a way to pay the bills while you 
learn.
 
kev
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  Lionel 
  Issen 
  To: <A title=metastock@xxxxxxxxxxxxx 
  href="mailto:metastock@xxxxxxxxxxxxx";>metastock@xxxxxxxxxxxxx 
  Sent: Monday, May 28, 2001 10:26 PM
  Subject: Re: Tape Reading
  
  Some of the books by or about Jesse Livermore may 
  have something. There were some publications in the past about buying on 
  increasing or high volume.
  Try academic libraries and metropolitan library 
  systems.
  Tape reading went out because it is easier to do 
  this with a computer.
  Some of the Metastock functions like OBV may be 
  of help to you.
   
  My own suggestion would be to set up a template 
  with one or two volume based indicators and one other price based indicator 
  and see how good the signals are.  You can set up an exploration 
  that will select stocks that meet certain volume criteria and see how they 
  work.
  Lionel Issen<A 
  href="mailto:lissen@xxxxxxxxxxxxxx";>lissen@xxxxxxxxxxxxxx
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    <A title=wooglin.org@xxxxxxxxxxx 
    href="mailto:wooglin.org@xxxxxxxxxxx";>Wooglin 
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    MetaStock 
    Sent: Monday, May 28, 2001 8:33 
PM
    Subject: Tape Reading
    
    I am looking for source material on the old 
    fashion art of tape reading. As I understand it, someone with a trained eye 
    and a good memory could watch the tape and see the accumulation (or 
    distribution) of a stock followed by a price change in that 
    direction.
     
    I am looking not only for explanation of the 
    technique itself but also the trading tactics that go with it.
     
    Thanks,
     
    Jim Barone