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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: Lizzie Tudor who wrote (16005)2/2/2003 12:50:54 PM
From: Steve Lee  Read Replies (1) of 19219
 
My preference is to trade "the market" i.e indices, rather than to trade or invest in individual stocks. I think the latter is too difficult from a fundamental analysis point of view.

Maybe you can indentify a stock that is going to rise before the analysts, insiders, politicians and crooks with their immense research resources and information networks have run the price up above a fair value. But I don't try. Far easier to try to find a peak in exuberance to the bullish or bearish action and trade according to that. And it is a fact that crap stocks fly before a fall. It is not a cliche. That is why $BPCOMPQ marks tops and bottoms much better than $BPNDX.

So you might be right about what NXTL and BEAS etc are going to do, but they do not represent much of the total market. I prefer to play the Nas thru QQQ and NDX futures. That way I can get filled in a few seconds, have spreads of one cent and have stops that protect me against overnight gaps (thru futures).
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