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Alexander Elder "Trading For a Living" promotes the same
strategy....look for strength in a longer term trend and then buy on
weakness in the shorter term trend....
I highly recommend the book for very good ways to use TA indicators to
acually MAKE MONEY....the key part of any strategy is defining
trend....if you trade in the right direction entry points are really
just academic....exits and money maagement are what makes you a
consistently profitable trader...
--- marcboe77 <mboella@xxxxxxxxxxxxxxxxx> wrote:
---------------------------------
In the Dec 2004 issue of Stocks and Commodities, Larry Conners
outlines his strategy which is based on buying into weakness and
selling into strength, which is contrary to traditional wisdom.
- if the S&P 500 makes a new 10-day low, then buy and hold for some
5 days.
- this is reinforced if the short-term pullback is above the 200-day
moving average.
He also suggests that if the VIX (volatility index) is 5% below its
10-period moving average then the market is due to consolidate or go
down.
If the VIX is 5% (or even better 10%)above its 10-day moving average
then it indicates potentially big gains.
Finally, he suggests using the 10-period ADX to indicates whether
the market is trending or consolidating.
Marc
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