Wednesday, July 19, 2006
I bought Safeway (SWY) as a result of seeing that it was about to cross over its pivot point and its average close would soon follow. This is not a recommendation only something that I do to inform my trades. I like using averages because I don't mind missing an early entry and they keep me out of a lot of whipsaws. As you can see in the chart I bought it right at the point where it crossed its own average and one day before the close crossed the pivot. I will hold it until it crosses again.