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Strategies & Market Trends : IDIOTVILLE.COM
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To: John Pitera who wrote (131)6/3/2002 7:42:33 AM
From: Jeff Jordan   of 181
 
Hi John,

I haven't learned that yet. I think people see and learn what they want to learn.I've learned what bits I like to look at. This market is so schizo I just look for possible trading ranges and when things actually fall into place and the chart begins to speak clearly then I try and trade accordingly. When the market is going sideways people get confused as to which direction it's going to break. Today once the market gives the slightest hint of actual direction people jump quickly and without much reason. When any uncertainty or justification for a desired move appear the event is used for an excuse to trade the market that way. IMO

Chart sentimentals is the most difficult effect on what the market is trying to say. After all everyone is looking at the same chart. More and more people are using similar methods. This is the only thing that lets you into the mind of other traders. You can think or say if the price breaks this moving average or that resistance we can buy or sell. It's when reason goes out the window and the market swings too far one way or the other that things get exciting. So, it is easiest to look for extreme overbot oversold situations and play the coming retracements.....I have noticed more and more people doing this. This is what I do. So its all becomes a matter of timing....what will cause the event to occur and the situation to change.....this market appears to be constantly looking for an excuse to buy or sell. The market is still playing the same games it always has, only faster and sometimes with more deception. Big money still appears to view the game as suck in the suckers and take their money. The goal has been to create a bagholder.

JJ
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