Tom; RE:" matters that are pertinent to my signals..."
Understood; thank you for that overview of your trading technique, Tom - I'm sure that many others found it useful as well.
It was Judy who suggested a consensus indicator approach to the indices, which makes good sense. The potential benefits of doing this are apparent; it makes maximum use of this medium we are all using, too. I kind of wish there was a way for us to post all of the reads on one WWWeb page, rather than a thread; Perhaps some HTML wizard will be motivated to do something like that. It would have to be updated as the reads evolved, so the task would be formidable - but more powerful and simpler for folks to follow nonetheless. Easier to do with charts or tables rather than interpretations and positions, but do-able nonetheless.
The downside is also easy to anticipate. We've got a group of fine index traders/interpreters with human egos and emotions, being closely watched doesn't make things any easier for you/them, and a lot of us are throwing around some serious dinero when we trade. Having a good sense of humour will be important for a consensus approach to be sustained.
OK, so the people whom I am following are:
Tom Trader - intermediate swings of the OEX/SPX/SP7Z
Kevin - shorter term SPX/SP7Z "pivot points"
Anolan (Nemer) - very short term OEX resistance and support levels
Iqbal Latif - SPX/SP7Z, SOX and TWX (bonds) tactics / fundamentals
Donald Sew - T/A of general indices
Judy - market interpreter / individual equities
...and recently, having seen what has been evolving, other folks are starting to come out of the background, and may feel confident enough to begin posting their interpretations / trading positions.
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FWIW, here are some of my thoughts. We're makaing a triple top, and will probably spike up in some climactic way. The NAZ is already starting to crumble. MSFT and CSCO/LU will probably peak shortly. I do not know if we will crash again or, simply begin to deteriorate valuations in a downward spiral; Nor do I know if this process will begin before Thanksgiving or shortly thereafter. However, IMHO we will be looking at DJIA 72~7300 as resistance within 45 sessions. I sure hope that I am wrong, amigos! But I'm feeling quite cautious about TechStocks. Maybe, "this is how bottoms are made" (^_^)
-Steve |
