123 Trends and Reversals Message Board

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Strategies & Market Trends : 123 Trends and Reversals

QQQ 629.07

+0.5%

Oct 31 5:00 PM EST

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To: Ally who wrote (25)	1/30/2001 3:35:50 PM
From: Michael Watkins	Read Replies (1) of 147

I think most people should position trade stocks and simply trade smaller positions, rather than day trade. That's what I do with stocks. I only day trade futures since the tools and market is better geared for success. But I still look at shorter time frame charts - usually a 65 minute on stocks, to find the major patterns within the daily bars. Early warning system! I agree, RIM needs to make a higher low before the downtrend is dead. I think it will trade more with the overall tech market than against it, and perhaps some players decided today to evacuate feeling that tech is due for a pull back.

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