chart update, page-1057

Hi V,

I understand.

I have been using P&F since 1982 with plenty of success. In 1982 I developed a P&F trading system with a TA expert. He is now one of the key people at Macquarie Bank in their TA department. He still uses our system!

Basically I use P&F, the 200 day moving average and various RSI's (together with stochastics). Most of the other TA tools, like MACD Oscillator's, Bollinger Bands etc. are probably very good, however, they are far too technical for me.

One TA tool that I am not a fan of is Elliot Wave theory. Although having said this, it should work, as I am convinced that both buying and selling always happpens in big or small waves.

I was wondering if you have read any books from Jack Schwager from Wizard Trading? IMHO he has written some of the best books on TA. He particularly explains stochastic oscillators very well, which perhaps you are using.

Cheers!

MB

P.S. This post is my own personal opinion and not a recommendation to buy or sell. Readers must do their own research before undertaking any investment decision. The Information herein is based on factual information obtained personally by me, or given personally to me by totally reliable sources.