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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts
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To: Lost1 who wrote (46452)7/21/2000 8:41:47 PM
From: Rich1  Read Replies (1) of 63513
 
Giz, I think I have come to understand the problem. So many of us now have access to information that we never dreamed existed. This I beleive has become a problem.
All of a sudden guys like you and me know where support is. When we reach support and breach it there is an overreaction to the downside.
We know where the breakouts are and when stocks and indices breakout there is an overreaction to the upside.
I have been thinking of this for the past couple of weeks and have discussed it with Ground Zero and others.
We may have to change our habits. We may have to sell before support or buy before breakout. Otherwise we get these big gap ups and downs.
The whole world knows support on the SPX is like 1479. If we breach it Monday it could be ugly. If we bounce off it like I am hoping then we get an overreaction to the upside.
Would really like to hear yours and other opinions to this.
Together we may all learn something.
As a side note the "Big Report" showed an all clear we got the ball signal this week. Has that become a little bit of a contrarian, only from a slight pullback standpoint. Don't want to piss off DWA as they have been great to us. I'm just asking. I know others have expressed the same sentiment.
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