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Subject:  Re: Reading Candlesticks Date:  5/3/2004  6:32 PM
Author:  rubycon1 Number:  30 of 211


I recommended your post. I like your style and humor,Sprocket. I'm the one who asked to open this forum. And was the one recommending the yahoo group, also founded by me and Blowewen. The reason was twofold:
First, I have a day work and am not able to run and "cheer-lead" two places.
Second, being candlesticks a graphical method, the fool site does not provide ways to share charts as Yahoo does.
Anyway, if this forum begin taking life, I promise I'll find some time to share my opinions here too.

I agree with you that it's better to buy fundamentally strong stocks. I see the candlesticks as a the trigger but we need to get good set-ups.
The best ever set-ups on stocks are here, at the Fool and they are at the Mechanical Investing Board.

There they have the best screens combining fundamental and relative strength methods, using Valueline and IBD stocks, including some screens built in part from Ben Graham ideas.

The best of all, they have back-tested them with stunning results.
I'm trying to use those screens to get the initial set-up and use the candlesticks to trigger entries. Exists will be a combination of the MI screen and candle exit. The idea is to spot stocks with strong built in bias, and the candle signal just to optimize entries and lower risk.


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