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Pastimes : CNBC -- critique.
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To: Early Out who wrote (1350)8/11/1998 8:09:00 PM
From: Thomas G. Busillo  Read Replies (1) of 17683
 
John, today's great "Pisani moment" was his reason for sometimes mentioning whether stocks are above or below their 50-day moving averages:

"Traders don't like to buy stocks when they're below their 50-day moving averages".

You know, I've been trying to add some better TA skills to the ole' trading toolbox, but now I see my efforts are all for naught.

It simply all boils down to: "Traders don't like to buy stocks when they're below their 50-day moving averages".

Granted, I have noticed that occasionally some stocks tend to move from below their 50-day moving averages to above them, sometimes quite dramatically, but since "traders don't like to buy stocks when they're below their 50-day moving averages" I'll just have to assume I've either been getting bad data or there are actually covert clusters of elves, gnomes and pixies (as opposed to "traders") who are the ones doing the buying in these circumstances <g>

Good trading,

Tom
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