Keep It Simple…
I get a lot of questions about fancy indicators and charting packages with
lots of bells and whistles, and the truth is I don’t know much about the
majority of them — because I don’t use them. The most important tool or indicator
a trader has at his or her disposal is a price chart and a pair of eyes.
10-22-2001
15:21:07
Michael’s Stores
(
MIKE |
Quote |
Chart |
News |
PowerRating) is nearing the
trigger out of a pullback from its recent high. MIKE is up 0.10 at 47.28 and
has a 3-month
relative strength ranking of 94 from TradingMarkets.com.
The stock has rallied for more than 6 points since
Oct. 22.
No muss, no fuss, no fancy indicators. Two eyes and a price
chart. Learn to read simple price action before making use of fancy indicators.
There is no Holy Grail when it comes to software or indicators.
Until tomorrow,