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Tengasco Inc. Message Board

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  • RickM352 RickM352 Aug 20, 2008 8:17 PM Flag

    Lemme see now...............

    #1. "TGC is below its 34 day moving average. This bearish sign is even more significant because the moving average is also trending lower." [Response] LOL. How many moving averages are you creating? There are 5, 10, 15, 20....all the way up to 100 day MA's and beyond. Next.
    #2. "The MACD for TGC currently indicates a strong bearish signal for two reasons. First, the MACD is below the signal line, a 9day moving average. Second, the MACD is below the critical level of 0, which implies that the underlying moving averages are trending lower." [Response] In order for a MACD to bottom out, I would think it would HAVE to be below the signal line, am I missing something??? If a MACD has bottomed out, how much lower can it "trend"? Next.

    #3. The RSI is currently at 42.81% which indicates that the stock is neither overbought nor oversold. [Response] Take a look at TGC's RSI average. 50 is considered midway for any chart reader for any stock. Your 42.81334278 is oversold as far as TGC goes, not CIEN, JNPR, MSFT, MOT, EBAY, EMC and so on. Note where it's overbought level is. Quite a ways Next.

    #4. "The +DI line is below the -DI line and the ADX is greater than 20. This bearish signal indicates the stock is in a confirmed downtrend." [Response] +DI, how many of the hundreds of indicators are you, selectively, going to use???? You left out bollinger bands, volume+....and the list goes on. Have you ever heard of the term.....( analysis paralysis )? Some "wanna be" chart readers get so caught up in all the pretty colors, that they start coloring outside the lines, and then their coloring book starts to look like a fifteen day old tampon. Keep it simple. I don't consider myself a pro, but I've done very well by keeping things simple. Ask any Market Maker, any, if they use all the indicators out there.
    Your words were strong, but their outcome was wrong.
    Good luck in your endeavors.

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