|
PureBytes Links
Trading Reference Links
|
Since there is always a need to be looking for short term buy and sell
signals....
Here is a quote from the Feb 18, 1989 Richland Report by Kennedy Gammage on
the use of the 10% component of the McClellan Oscillator.
"SELL and BUY signals are rendered by the 10% exponential component of the
McClellan Oscillator when the plotted 10% breaks below uptrending fan lines
(SELL Signals) or breaks up above downtrending fan lines (BUY Signals).
However, the hitch is that unless and until these signals are either
validated and / or confirmed, the signals may be very short-term --lasting
only one or two days --which is of little use to any but stock index
players. Therefore, we desire desperately, as the heart pants for the
stream, to see 900 to 1,000 or more issue-pluralities on the day of or after
the break, and/or 90 to 100 point-moves (or more) in the 10% index itself
on the day of, or the day after, the trendline break, to Confirm and/or
Validate the signal."
Attached is the status of things at the moment where the NYA is on a sell
and the buy trendlines are being generated for the next buy signal. The 10%
component of the McClellan oscillator is the faster moving average of the
two it is composed of.
bobR
Attachment Converted: "f:\eudora\attach\10%.gif"
|