Forum Archive Index - April 2002

[Phaedrus <Phaedrus@techemail.com>]

Ross,
     The most important fact about VTL is that it is still in a medium-term 
downtrend. There is a nice confirmed trendline in place that has not been 
broken yet. This is not to say that VTL has not been tradeable in the short 
term. I have marked the MACD and trendline break Buy and Sell signals on the 
chart. The black arrows are Buy/Sell signals generated by Martin Pring's RSI 
based short-term trading system. Note how well the signals from these three 
different systems are correlated. None of these trades would have been 
spectacularly profitable - I am sure you realise that it is much easier to make 
a profit short-term trading a rising stock rather than a falling one. There 
appears to be good support at about $1.92. (Prices are right back where they 
were about 15 months ago, after dropping nearly 50%.)
 The MACD Histogram (used by Elder in his triple screen trading system) is 
simply the difference between the MACD and its signal line, presented as a bar 
graph. MACD trade signals occur when the MACD line is crossed by its own moving 
average. The further from the zero line an MACD crossover is, the stronger the 
signal. 
 So, what to do? Short-term traders will have already bought. Cautious 
short-term traders will be waiting for a break above the short-term resistance 
at $2.00. Medium-term traders will be watching very closely, waiting for the 
trendline break, or perhaps a new uptrend. 
        Regards,
                 Phaedrus.
PS Jeffley, I agree with your well reasoned comments. Dosn't sound like the 
Jeffley of old though!
 

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