|
PureBytes Links
Trading Reference Links
|
It's a pretty good program, but it only works on optionable stocks.
It uses option prices to establish support and resistance. There are
two ways to use it. You can use it with your usual EOD trades. It
gives a good indication of support and resistance. Then you have to
use your other indicators to place entries and exits.
The second way to use it is to search stocks to find the ones it
identifies as either good long or short candidates. Here's the issue.
Once it finds a group of longs and shorts, you can't take positions
in both groups. You have to identify the trend. In the direction of
the trend, its picks are pretty good. I can't remember exactly what I
found but it was over 50% good picks. Of course, you have to apply
your own system for identifying which stocks you want to take
positions in.
Since normal trading wisdom is not to trade against the trend, I
didn't find this to be a problem. However, in very volatile markets
which are reaching a peak, like the one we're in now, you may find
yourself not holding your picks for long.
For $49, it's a good plug-in. If you do any amount of trading, you're
spending way more than that on commissions everyday.
JO
--- In equismetastock@xxxxxxxxxxxxxxx, "Roger" <Bistrotrade@xxxx>
wrote:
> ALL THIS DISCUSSION ABOUT ICE, HAS ANYBODY USED OR RESEARCHED
> POWERSTRIKE,SIMPLE ANALYSIS,BUT FOR $49, DOES REVEAL 3BARREV AT
> OPTIONSTRIKE SUP/RES LINES, ANYFEEDBACK?
------------------------ Yahoo! Groups Sponsor ---------------------~-->
Buy Ink Cartridges or Refill Kits for your HP, Epson, Canon or Lexmark
Printer at MyInks.com. Free s/h on orders $50 or more to the US & Canada.
http://www.c1tracking.com/l.asp?cid=5511
http://us.click.yahoo.com/mOAaAA/3exGAA/qnsNAA/BefplB/TM
---------------------------------------------------------------------~->
To unsubscribe from this group, send an email to:
equismetastock-unsubscribe@xxxxxxxxxxxxxxx
Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
|