bullish long term sentiment - new research out, page-19

eMark,

Thanks for the kind words. Much appreciated.

The book I referred to is "The secret of Candlestick Charting" by louise Bedford. The book is about strategies for Trading the Australian markets with information on:

Reversal and continuation patterns
fine-tuning entry and exit procedures
Maximising short-term trading profits
Gaps, trends and support/resistance
Trading psychology

Now to parabolics:
Developed by J. Welles Wilder, the Parabolic SAR indicator provides excellent entry and exit points in trending markets.

When the parabolic dots appear below the sp this is the sell zone. when the parabolic dots appear above the sp this is the buy zone. So, if a parabolic dot hits the sell price from below this is a signal to sell. If a parabolic dot is hits the sp from above, this is a buy signal.

What you saw was the sp of.155 hit the parabolic dot below, signaling a "sell".

For more info see:
http://www.asx.com.au/research/charting/library/parabolic.htm

Not an easy week chasing the BIO's. I find that it's a high risk game trying to follow "flavour of the moment" stocks that I know nothing about. My plan is to stay clear away of risky, erratic and volatile day trading situations. Good luck to those who do make $ this way. I find what works for me is trading a trend that I can easily follow, chart and make sense of. Everyone is different.

Have a good weekend
cheers
Ange