RE: Stan Weinstein's Stage Analysis - Discussion Thread
Thanks for the good feedback on the Q&A with Weinstein. I think it mostly confirmed what we'd already assumed with regards to volume being less important nowadays, but still necessary for those A+ picks. And the breakout entry points being on a closing basis now for investor positions and not buy-stop orders anymore, due to the large number of false breakouts that occur these days.
It is also good to know that the sub-stages don't have any definite rules, and are just a judgement call on whether it's early or late in the stage as we had been doing. But the surprising answer was that he thinks we should use the adjusted data for charts, which then changes support and resistance levels. I'm not totally convinced on that one, and so will continue to look at both personally, plus I don't have any choice with the ProTA charts as they only use the unadjusted data.
I'm very pleased that he took the time to reply, even though they were only concise answers. But I doubt he'll do it again for a good while. Maybe I'll try again in a year or so...