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Strategies & Market Trends : Rande Is . . . HOME

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To: Mark Konrad who wrote (47396)	2/14/2001 3:01:50 PM
From: Mark Konrad	Read Replies (1) of 57584

Public response to many e-mails and pm's: Time as a function of rallies and routs (or "one day does not a market make"). Here are my thoughts: For position traders (such as myself), we generally get far better buy/sell signals over a period of days rather than hours. The benefit is greater certainty with fewer trades while the disadvantage is usually missing absolute tops and bottoms. For example, I'm currently watching the QQQ's for an entry after having sold in the high 60's last month. Today it appears to be making a very strong upside reversal but I probably won't get the "buy" signal I like to use until tomorrow at the earliest. I COULD get one today but the Naz would probably have to be up 60-100 points. Even then, I'd actually prefer two days of 30-50 point gains rather than just one big day. Same holds true for many individual issues. This also helps avoid headfakes and traps (though certainly not as well as I'd like). That said, this market does show many signs of being short-term oversold and new long positions generally have a good rate of success with that backdrop. All in my opinion--MK--

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