S&C CONTENTS PAGE March 1999, Vol.17 No. 3

18 Bollinger Bands
by Stuart P. Evens
This indicator combines popular technical methods -- moving averages, support/resistance, and envelopes -- with statistical analysis to create a powerful technical analysis tool. Bollinger bands, used with the relative strength index (RSI) to analyze a market, enables us to develop a method to enter and exit trades and review the historical results. 


30 Technical Studies and the Primary Cycle
by Raymond A. Merriman
Cycle analysis offers the opportunity to identify windows of potential market bottoms and tops. Technical indicators can be used to time entries and exits in the stock at key points in the cycle. How well does this concept work? 

34 Cycles legend


59 Tales From The Front: Robert Zellner
by Thom Hartle
Robert Zellner went from academic to institutional trader to business manager before settling on full-time private trader. STOCKS & COMMODITIES asked him about his work, past and present, his views on the markets, and his philosophies about trading. 


47 The Maximum Favorable Excursion Strategy
by David C. Stendahl and
Leo J. Zaminsky
Maximum favorable excursion (MFE) is the peak profit that a trade earns before the trade is closed out. Reviewing the performance of a trading system allows us to measure the tendency of the MFE of the trades. Here's how to use the information to enhance profitability. 

80 A Rationale For Futures
by Charles R. Lightner
Although the futures markets are widely misunderstood even among knowledgeable investors, they serve a critical purpose in our economy; through the managed futures industry, they provide an important investment opportunity for both institutions and individuals; and they need not expose the investor to unreasonable levels of risk. 



- Personal Hotline, page 55 
- Listen Only Squawk Box, page 78 
- FutureScope, page 91 
- QCharts, page 93 


Opening Position
Letters to S&C
Futures Liquidity
Traders' Tips
Traders' Glossary
Trade News & Products
Advertisers' Index 
Editorial Resource Index
Resources Online
Classified Advertising
Books for Traders
Novice Traders' Notebook


Cover Art: Lisa Haney
Cover Concept: Christine Morrison