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<DIV><FONT color=#000000 size=2>Assuming you have Dinapoli's book, you need to
check the section on objectives. A security makes its targets when it's trending
strongly and fails to make its targets when its consolidating or
failing.</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT size=2>Earl</FONT></DIV>
<BLOCKQUOTE
style="BORDER-LEFT: #000000 solid 2px; MARGIN-LEFT: 5px; PADDING-LEFT: 5px">
<DIV>My system is based on fib retracements and Dell is sure retracing! I
figure there are 2 choices: 1)It will bounce off the retracement and
resume the uptrend. 2)It will start a new trend and go lower. At
this moment it is oversold, so that gives me two choices. 1)It will
resume the uptrend. 2)It will re-test the high before a new leg down and a
new downtrend. That says to me in the short term it is going
higher.</DIV>
<DIV> </DIV>
<DIV>So next I need a signal that it is indeed going up. Then I set my
stop at the low of this retracement. Then I set my target based on fib
ratios. (I'm conservative and use 1.618.) Now I just let the
price happen and either I'm in or out.</DIV>
<DIV> </DIV>
<DIV>Here's a couple of questions: what would you use as your signal
that it's resumed an uptrend? </DIV>
<DIV>Would you use the after-hours low or the trading day low for your
stop? The after-hours low is a couple of points lower than the trading
day low.</DIV>
<DIV> </DIV>
<DIV>And just generally speaking, am I on the right track?</DIV>
<DIV> </DIV>
<DIV>I really appreciate any comments, feedback and wisdom you all might
share!</DIV>
<DIV><FONT color=#000000><BR>Swope's Mountain Photography<BR><A
href="http://www.swopephoto.com";>http://www.swopephoto.com</A><BR><A
href="mailto:linda@xxxxxxxxxxxxxx";>linda@xxxxxxxxxxxxxx</A><BR>Climb the
mountains & get their glad tidings: Peace will flow into you as sunshine
into flower; the winds will blow their freshness into you & storms their
energy, & cares will drop off you like autumn leaves. John Muir 1838 -
1914</FONT></DIV>
<DIV><FONT color=#000000></FONT> </DIV>
<DIV><FONT color=#000000></FONT> </DIV></BLOCKQUOTE></BODY></HTML>
</x-html>From ???@??? Fri Feb 19 18:27:08 1999
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RT's,
Two other books that a like are "Trading for a Living" by Dr. Elder and
"The New Commodity Trading Systems and Methods" by Perry Kaufman. Elders'
book, at least for me was good with psychology and Kaufmans' with everything
else in trading.
Oat
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