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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures

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To: Stoctrash who wrote (4661)	9/25/1998 8:00:00 PM
From: Patrick Slevin	Read Replies (2) of 44573

Heh, want to see some informed sentiment indicators? Look at the hottest thread on SI, it starts out like this... While CNBC is undoubtedly a valuable information resource, I have some concerns about their programming and editorial slant. They are obviously geared toward the short term trader and I think they contribute a lot to the herd mentality and momentum investing in today's market. Buy-sell-hold rankles me...these guys have opinions that are a mile wide and an inch deep. Then says.... Kudos to Joe Kernan who at least has the decency to shake his head in bewilderment when a tech announces record earnings while the price dives. Joe Kernan bewilderment I'm learning is a valuable buy signal. And they would be doing us male viewers a huge favor to put Lorraine Hahn and that new blonde reporter on more often! To me this is denial. Some reporter in a suit shaking his head is a market vane. The market just does not have the underpinnings for major move, in my opinion. In other words, the decline in the market must be the fault of the media....the same people who I fault for putting a "clock" on the screen to see when the market would break 9000. Seems to me, these people are to blame for rampant bullishness with no regard for the downside. I think the media is always a step behind. Blaming them for the ills of the market does no one any good. Oh hell, I'm shaking my head too but there is no camera so I guess there won't be a hot thread about it tomorrow. Well an intermediate term signal tells me to be long; it kicked in at 1:15 EST. It has a 76% W/L rate. Another that has a 78% W/L rate is still short. Personally I'm still up in the air with regard to my opinion. I'm glad I left to play golf. I will have one by Monday though. It's getting cold here and I may as well get more serious about trading, I guess. I think I do my best work when I can't play golf.

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