Robert Graham: That was a well thought out post, I am not sure where to start with my reply to it.
First, your post while well worded and thought out, it really is not an analysis of Market Direction using fundamental and or technical analysis as is the "focus" of this thread.
But hey, we know all of this is idle coffee room chit chat, right? I realize some of us take it very seriously. And worthwhile market insight has been offered in the attempt by many to divine the markets. But as I have been reminded by a good trader in the markets, what really matters are the stocks that you are following and trading.
Well, I disagree that this thread is "idle coffee room chit chat", completely! Market direction has been called fairly accurately on this thread. However, I do agree (if you are not playing index options/futures, QQQ, DIA, SPY, etc.) that the stocks you are betting on is equally if not more important. But, overall Market direction can and will effect individual stocks. And, that is the "focus" of this thread.
I think I have a solution. I propose that we make up a selection of stocks that we follow which will provide us a good profile of the market. We then discuss the market based strictly on the price-volume action of these select group of stocks. The focus will be that of the short term trader. Naturally this profile will in part reflect where much of the action is in the market which is likely to include some of the stocks each of us are following as traders. This will also allow each trader to have something to contribute to the discussion as they talk about their "neck of the woods" in the marketplace
SI has stock threads and stock picking threads all over the place. I suggest you find one you like and use it to accomplish your goal or start your own. Please read the thread header for this thread again. I think it will help you understand the "purpose" and "focus" of this thread.
Your contributions are appreciated, but please do not try to change the "purpose" and or "focus" of this thread.
Good trading....
Regards,
LG
|
