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Strategies & Market Trends : Intraday Updates, Analysis & Strategies for Daytraders
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To: Jenna who wrote (360)3/15/2001 2:31:54 PM
From: Dave Gore  Read Replies (1) of 589
 
Jenna, not worried about you. It's the people trying to make sense out of dozens of choices and opinions thrown at them. Those who are buying on hope or those unaware how very very tricky this Market is. Too many still want to pick a bottom and go long or pick a top and go short, but they underestimate how tricky that is.

And trying to decide whether to hold overnight and what to hold is pure gambling. Trading rooms are just adding to the confusion of many as is SI, CNBC, and many other sources. The Market is more akin to gambling., perhaps now than it has ever been. At least last year you had a pretty good notion that the trend was down but now you don't know, for sure. Too many surprise catalysts or MM/Big Player whipsawing is going on. Not even experienced traders like you know what to expect from one minute to the next. There is not enough buying at times and not enough selling for a capitulation. I think most should not trade at all here unless they want to average in to long positions that are the safest out there. This is especially true in techs, but now that the DOW has cracked, things get really confused if you can't count on those stocks to give you some stability.

When you have to hang on every earnings report wondering whether it will rally or tank the Market or stocks in its sector, or watch the futures from tick to tick all day long, it's nothing but gambling. If eveyone knows that and accepts the risk and likelihood that they will probably lose money, no problem.
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