Daytrading Canadian stocks in Realtime Message Board

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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime

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To: AllansAlias who wrote (35294)	4/16/2000 6:04:00 PM
From: keith massey	Read Replies (3) of 62348

Not to put too fine a point on it, but I think this is a futile effort. Not to put too fine a point on it, but I totally disagree with you!! What you have just said is that TA is next to useless in the short term and this is coming from an individual who preaches short term TA everyday. TA is all about probability, and if you can have the odds on your side when you make each trade, in the long run you always win. According to Friday's action I would say the most likely scenario for Monday morning is down but I am not arrogant enough to think I can perfectly predict the action, but the odds are on my side. However, I don't think I have enough data to make any predictions farther than Monday morning with any certainty, at least not odds good enough to play off of. What any smart player would do is map out all the major resistance and support point of the major leading stocks and indexes and pay close attention to volume and price action as we approach each point and play it accordingly. I am not positive what the market is going to do next week but I have a plan in place for most occassion and once I see a pattern forming I WILL play it, either short or long based on TA alone. The market is wounded. My opinion is "Fade the breakouts and sell the LT into rallies." This is the type of thing everyone and his dog were preaching on the threads last Oct as we were getting very close to the bottom. Anyone that stuck by what they said got their heads handed to them over next 5 months if they shorted or missed out on a lot of profit. I am not saying I am bullish on this market (or bearish) but have learned enough to know that I cannot predict the market IN THE LONG TERM and neither can anyone else. Best Regards KEITH

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