DAYTRADING Fundamentals Message Board

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Strategies & Market Trends : DAYTRADING Fundamentals

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To: shasta23 who wrote (5347)	11/12/1999 8:09:00 AM
From: TraderAlan	Read Replies (1) of 18137

Stafan, I saw a big piece of this move coming through TA. NASDAQ gapped through channel resistance on high volume. I had been watching that same line on every hit and failure. This isn't a brag. Just paying attention to the information in front of my nose. Last year, I completely missed the bottom call on the panic day when CSCO was down a million points. But Chris Worden at TC2000, another "chart" guy called it exactly. The information was there. One advantage is that I stay informed but don't have much of an opinion on the news. Also after doing this for many years, you develop a feel for the cycles within the market. Then there is that ultimate advantage: as a daytrader, the only trend that's important is the one I'm trading that day. I own LU from 60 in the summer in the 401k. When it dropped to 55 a couple of weeks ago, I didn't know to buy more. Up 22 points since then. The best way to smell change is follow and do TA on the indices. Use a site like decisionpoint.com to see market internals. And learn whose opinion to trust out there on the Net <g>. Alan

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