T.ITE: iTech Capital (TSE) Message Board

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Gold/Mining/Energy : T.ITE: iTech Capital (TSE)

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To: gordant who wrote (2981)	12/7/1999 3:52:00 PM
From: keith massey	Read Replies (3) of 5053

Gordo.. Good post... I guess I have multiple personalities depending on what I am trading and the time frame. For S&P/NASDAQ futures trading I trade from a full technical game plan and never, never, ever try and take news into consideration. In that game the charts never lies and going against the crowd will get you killed, especially when you are trading on a 5-7% margin. For day trading / momentum trading I try and balance the charts and the news with most of my decisions weighted towards the technical side. However if news comes out that I strongly believe is very bad but the stocks is going up or sideways I will often bail if I have a profit or put in a very tight stop. Sometimes there is a time lag between the news coming out and the charts reflecting the price. Sometimes they just keep going up after the bad news and sometimes they don't but I can sleep a lot better at night using this approach. For long term trading I often use a slightly different approach. There is so much noise in the signal that dips and peaks that can be used for day trading / momentum trading are not relavent to the long term price potential. If you have done your DD... and I mean really done your DD, the short term noise in the chart signal can often be almost ignored because it is often created by people who have no clue about the fundamentals of the stock and are day trading / momentum trading. I don't knock these people because that is what I do on many other stocks. Of course when major signals are given on the chart I always stand up and take notice and try and find any flaws in my thinking for the long term potential. So far I still see no flaw in JDX's plan. So why do I post the short term charts every night if I am in for the long term???? I am a day trader / momentum trader at heart and it is in my nature. Best Regards KEITH

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