DAYTRADING Fundamentals Message Board

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Strategies & Market Trends : DAYTRADING Fundamentals

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To: wallstreeter who wrote (2363)	8/4/1999 4:12:00 PM
From: Eric P	Read Replies (3) of 18137

Another ugly day in the markets. Both the Nasdaq and Dow reached it's high before 11:00 AM and fell the rest of the day. I can't predict when the bottom will be, but the trend of the market is certainly clear. Be cautious of the long side of the market until you start to see signs of a rally. On the hourly Nasdaq Composite chart, I only see about three hourly "up" bars in the last week. The market is just steadily trending lower. Hopefully, many of us have been very profitable on the short side, otherwise, it's a good time to just sit on the sidelines until the market stabilizes. I'm happy to be profitable during the last week, but I haven't had any fantastic days. "Patience, grasshopper." Good luck, -Eric

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