IRBY-
The traders at my place all have their favorites in each group, usually including the benchmark issues. As I've said before, we watch the S&P futures constantly. In my opinion a daytrader should watch which groups react to the futures and how, which react to the bond and so on. For exercise watch the stocks in the sector indexes such as XOI, OSX, BIX, DRG, for example, to see how they move together and with the market. To comment about charting, well, it's like discussing politics or religion. I see great value in it, but alot of people don't. Intraday charts help me manage a position, daily charts help me identify potentially strong or vulnerable stocks. I still have alot to learn and wil explore every reasonable avenue except a "magic stock picking machine" or astrology. I want to develop my tapereading, intraday charting, some of these indicators such as the TRIN interest me. A guy I spoke to today was using the VWAP as an indicator. I like to read this thread for ideas, except when someone posts hyping some piece of crap that they probably lost 90% on. Good luck to all of you.
-Alex |
