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There was an interesting article in Stock and Commodities back in Feb 98. The
title "Multipule Moving Avg. by Daryl Guppy. For short term traders he used
the averages of 3,5,8,10,12,15 day EMA. Long term 30,35,40,45,50,60 EMA.
How to use it, fairly simple. When one group of EMA would bunch up and start
to cross the other group, you would know to go short or long.
I had posted before, if history was to repeat itself then the market would go
lower. If we look at the Greenspan histogram, you will see that everytime A.G.
tells the markets what it wants to hear the market drops anyway. Notice the
last bar on the chart below, the Nasdaq closed ~20 above its open. For me not
a good sign of upward movement.
I don't use any MA's for any of my trading, just liked the article.
TradeWell,
Joe Frabosilio
"Rajat K. Bose" wrote:
> NASDAQ composite si showing a number of bearish moving average crossovers.
> 50 dma with both 89 dma and 100 dma. 34 dma is also penetrating the 200 dma
> from above. This kind of situation normally suggests a good amount of fall
> though there could be a small rally initially in some cases. It looks like
> the earlier 3227 support would be violated in the next week or thereafter.
> Below that there would be support at 2900 and 2500 levels.
>
> Also, consider a fundamental information. From May 12 till about May 23,
> about USD 500 billion worth of recent ipo stocks would be freed from
> lock-in. while it is true that not all of it would come the market
> immediately but a substantial part of it can definitely come exerting a
> fresh supply pressure on the tech stock market. some of the scrips for which
> lock-in shares would be released are still trading at much higher levels
> than their ipo prices.
>
> would list members be interested in discussing the above issues.
>
> thanks in advance
>
> rajat
>
> ________________________________________________________________________
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