Jan:
Looks like somebody else picked up on my NTL indicator. From the "Idea of the Day" thread:
To: Bruce Tiemann (12995 )
From: randy kay
Tuesday, Oct 28 1997 1:43PM EST
Reply #13004 of 13056
Bruce - I have a tip about market movement. I watch Nortel (NT). This is a great
company (I'm not in at the moment, will wait a little yet). If you follow this stock closely
I swear it will indicate very short term future movement of the DOW (not the tech
sector even though it's a tech, odd) Anyway, have a look at NT's chart last week and
you will see exactly what I mean, it fell BEFORE everyting else did even though
earnings were quite good (earnings were up). During the summer I made money
flipping puts/calls on NT because it followed the DOW so closely, you just had to
know where the DOW was going which was easy because it was making wild swings
each day in a tight range so trading NT was like trading the DOW. Anyway, It's an
interesting indicator.
I picked up CPQ calls today, just couldn't stay away, I like everything about this
company.
BTW, glad to hear you didn't dump everything, the time for that would have been
DOW 8200 when CNN had big crazy 8200 3D graphics and everyone was acting
stupid, that was a top (not saying it's 'the' top).
Randy |
