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Old 01-21-2011, 01:15 AM #21
Madrus Rose
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RSI is just a really popular trading tool among traders based on a formula more easily explained here , that measures the momentum in stocks & when they get overbought or oversold . If u haven't ever used it before start doing so & then you can add other
indicators as well like the CCI & MACD (can google those too ).

RSI
https://en.wikipedia.org/wiki/Relative_Strength_Index


* beats the hell out of flying blind & beauty is u can see thru these indicators at a glance what all the pros are looking at too . Thru more technical charting analysis there can be more refined "support Levels" determined & Resistance levels . There's a saying in trading which is BAS SAR (or SAR BAS) which stands for " Buy at Support and Sell at Resistance"... and these indicators help tell you where those points are .
https://www.google.com/search?q=buy+a...rlz=1I7GGLL_en

just use this chart link for looking up stocks ,
its all set to go for ya & free ..u can set for daily or weekly etc
https://stockcharts.com/h-sc/ui?s=$CO...d=p37712746800
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Old 01-21-2011, 01:30 AM #22
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Nice man, thanks. I have been flying blind for a while and did okay I guess, averaged 7-9% weekly but this is a whole new ballgame now. I gotta learn how to use these tools maybe I can get a better percentage.
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Old 01-21-2011, 01:37 AM #23
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well to be totally involved one has to be able to think "Short" sometimes ...if you only play "long" then you have to really be aware of those support levels . Then there's always what we call "sector rotation" when market has been trending up & they look for other sectors to buy into & run up , which have been lagging . They're always looking to make a buck , so rinse wash & repeat ..run something else up

catching the trend or the trend is your friend but takes alot of study & awareness of whats going on in all the different sectors . Knowing the market whole as a composite of many many sectors is really an important thing , & watch them daily .

Here's one of the important ones to watch is good old Goldman Sachs
over in the financial sector, they're into everything!!...

see what Goldman (GS) does here off this "test" of the 50day simple moving
average (the blue line ) here @$165 noticed it bounced there b4 off the 50ma , but better spot would be to look down to $155 as support which is the aug, sept , oct highs too. Thats very "long-term" strong support ...see the line u could draw there at $155? ? Patience is a key ...
https://stockcharts.com/h-sc/ui?s=GS&...d=p84396545914

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Old 01-21-2011, 03:42 AM #24
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Very interesting. So you think we should see a bounce because it is approaching being "under-bought" @ or around 40 RSI and to boot it is approaching its 50 day moving average? The chart seems to show that it is still a very popular stock as it seems to stick above 50 on the RSI for most of the time. That seems to indicate people are playing it when it approaches being balanced and then ride it up to being over-bought and dump it. If it is currently under-bought we could see it rise again but we could also see it stall if the market continues its downward slide. I don't think we are even close to the level of correction that I expect by the end of this but at the same time, I don't expect GS to stay low for very long. I guess I need to start thinking like a pro trader rather than rationalizing my predictions with my own rationale.
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Old 01-24-2011, 07:57 PM #25
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Dow getting close to breaking 12,000 today. Anyone think we'll see 14K this year?

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Old 01-24-2011, 08:01 PM #26
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Good clip.

Bob "The Skeptical Strategist" Janjuah Expects A 10% Market Correction

As Schtazker points out: "Effectively the Fed was the bid. If the Fed's hadn't been in the market, flooding investors with liquidity giving them cash to buy risk assets, the S&P would have declined." Finally people get how central planning works.
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Old 01-28-2011, 05:29 AM #27
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Originally Posted by zenoonez View Post
Very interesting. So you think we should see a bounce because it is approaching being "under-bought" @ or around 40 RSI and to boot it is approaching its 50 day moving average? The chart seems to show that it is still a very popular stock as it seems to stick above 50 on the RSI for most of the time. That seems to indicate people are playing it when it approaches being balanced and then ride it up to being over-bought and dump it. If it is currently under-bought we could see it rise again but we could also see it stall if the market continues its downward slide. I don't think we are even close to the level of correction that I expect by the end of this but at the same time, I don't expect GS to stay low for very long. I guess I need to start thinking like a pro trader rather than rationalizing my predictions with my own rationale.

see how these charts apple & the compx bounced off that touch on the 50RSI ?
one could have bought in there or if short covered there ...and now another short approaching ?

Very low volumes ...



And the $compx

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Old 01-28-2011, 05:48 AM #28
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Dow getting close to breaking 12,000 today. Anyone think we'll see 14K this year?
better deal with reaching 13k gramps 1rst ....

right now going to have a time here with 12k , this is where the rubber meets the road at a strategic pivot ...very overbought & will pull back here to profitaking . Actually hit
intra day high of 12019 closed @ 11089 up only +4pts from the open ..so it got sold a bit.

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Old 01-28-2011, 06:51 AM #29
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if january is an indicator for how well the market will do this year, there is going to be a lot of money made.
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Old 01-28-2011, 08:53 PM #30
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Egypt and the middles east mess seems to be weighing on the markets today.

Unemployment figure was terrible yesterday too. Anyone think we are started stagflation in earnest yet?
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