Tag Archives: stops

Stop right there. Don’t make any fast moves…(faster than a millisecond)…

Posted on Sep 20, 2012 by .

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http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p97142210271&a=214966864

While the world waits breathlessly for the inevitable “correction” it’s worth figuring out where stops should be prudently set.  We think the likelihood of a seriously painful downwave are between none and zero.  But the odds of a minor 5% downwave are pretty high.  Knowing what to do before the shooting starts leaves you sitting in the catbird seat as opposed to investors who watch the avalanche start and wind up frozen.

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Flags, and why the present formation in the indices is not a flag

Posted on Sep 18, 2011 by .

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This letter was posted on the edwards-magee googlegroup.  Is reposted here in the event that all readers do not subscribe (which they should http://www.groups.google.com/group/edwards-magee)

The best place to ask a question is in the edwards-magee google group in response to a reader question.  (We are always eager to answer reader questions when we are aware of them.) Because of the  particular way that we see the site when we write letters we tend not to notice comments posted on the site.

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Review of stops in the INDU….

Posted on Mar 10, 2011 by .

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And of course the Dow chart and stops are the touchstone for all indices.  And also for individual stocks.  Thus, if the the Dow stop is hit you should be looking at all your positions and reviewing their proximity to their own individual Basing Point stops.

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Stops tripped. Time to hedge or exit.

Posted on Jul 03, 2010 by .

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2010-07-03-induThe most destructive habit — or decision, or characteristic or event or test of character– in the markets is to contemplate  a stop long set, and to reconsider it.  Actually it’s ok to reconsider it, but it’s not ok to decline it.  Only if it were set in error should it be negated.  Error means a glaring error in procedure, or in computation.  The present stop is a valid stop.  Those who ignore it will end up like the owners of Enron.  The stop at 9729 is violated.

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Out Robbing Banks…C and BAC

Posted on Apr 27, 2010 by .

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2010-04-27-cNo Per Petterson we, nor no Luce neither.  But today traders are robbing us of some of our paper profits in C and BAC.  When the barbarians are coming over the walls it behooves one to look to his defenses.

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