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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 693.77

-0.2%

Jan 13 4:00 PM EST

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To: d. alexander who wrote (24500)	12/6/1999 4:31:00 AM
From: Johnny Canuck	Read Replies (2) of 69730

Dorothy, >>I admire those who trade by a system. Do you use it for trading >>stocks? Surprisingly I don't use a 100 percent mechanical system for trading stocks even though I do for the indices. I still have a bad habit from my investing days of sticking with a stock a lot longer if I feel the story has not changed. I am comfort with that style and have not really had a chance to test a more mechanical system on individual stocks. Everyone can usually improve their entries and exits though. I remember Tom Trader saying once that he didn't have as much success trading stocks with a purely mechanical system as he did with indices. I guess that comment has stuck with me, so I have not pursued it. He tests his systems pretty thoroughly. I looks like most of the tech sectors were strong on Friday with the exception of Semi-Equipment stocks. Most of the money appeared to go to the blue chip leaders in each of the sectors. A lot of money came out of stocks that had run up recently, and went back into the leaders in the sectors. I guess the fund managers do not want to get blamed it the market pulls back. It is hard to get blamed for owning CSCO and LU. >>Why I rarely traded any of Clint's stocks, even when he (kindly) >>published the entry point! You are doing the right thing by sticking to a style that suits you and developing your own approach. >>Speaking of snow, it was 65 degrees here yesterday (sorry, not so >>good at moving between Celsius & Fahrenheit as I am between >>decimals & fractions). A few people were wearing shorts. So much for the picture in the NYTimes showing New Yorker huddled against the cold. <g>

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