Interesting discussion today....
Good Luck
Ken
www.mtader.com
MTrader Class - 10/05/98 (C) Copyright 1998 The Momentum Trader
[12:35] <mtrader> KWolff 9:36:40 OK...TIME FOR CLASS..
[12:36] <_Jackson> need a break from the other class School of hard knocks
[12:37] <KenWolff> 9:37:51 I would like to continue my discussion on
visualization today..
[12:37] <KenWolff> 9:38:25 You will not remember numbers (dow 7700 down to
7400 ) like you will remember a "picture"
[12:38] <KenWolff> 9:38:49 so I like to form pictures to help me remember
a , Market, Stock, trade..
[12:38] <_dadylonny> what is the picture?
[12:38] <KenWolff> 9:39:08 that is why I use funny names such as dumpers..
[12:38] <KenWolff> 9:39:37 picture = "mental visualization representing
real or abstract ideas or values"
[12:39] <KenWolff> 9:40:25 for example can you remember the last dow day
that went 500 pts down???
[12:39] <KenWolff> 9:40:41 or do you remember "CRASH MONDAY"
[12:40] <KenWolff> 9:41:00 the word CRASH will be more memorable..
[12:40] <KenWolff> 9:41:13 and it conjurs up trades like OXHP ..
[12:40] <KenWolff> 9:41:38 so today I would like to discuss our market
mood...and apply a visualization to it...
[12:41] <KenWolff> 9:41:59 "Todays market was like someone holding a ball
under the water.... "
[12:41] <captn> Not the trout?
[12:41] <KenWolff> 9:42:37 and as we saw the stocks gap down we were
anticipating the action of our stocks and market rebounding UP..
[12:42] <KenWolff> 9:42:46 so our first considerations were BUYING!!!
[12:42] <KenWolff> 9:43:22 everytime a stock market heads down it creates
VALUE ... and VALUE brings in buyers...
[12:43] <KenWolff> 9:43:48 so based on the negative open... our
preperation was "GET READY TO GO SHOPPING"
[12:43] <KenWolff> 9:44:13 Now when we begin to buy a market that is not
consistent... our big problem is: "WHERE ARE THE BOTTOMS???"
[12:44] <KenWolff> 9:44:49 So all we can do is watch the group called "the
most recent gainers" for bottom strength...
[12:44] <KenWolff> 9:45:08 because we did not have any big momentum NEWS
driven stocks this morning..
[12:44] <KenWolff> 9:45:33 so I personally picked , YHOO,AMZ,XCIT,LCOS...
[12:44] <KenWolff> 9:45:39 amzn
[12:45] <KenWolff> 9:45:57 along with our dumpers this morning... VIAS,
AZPN, AVID ...
[12:45] <_dadylonny> will you define 'most recent gainers'?
[12:45] <KenWolff> 9:46:40 I tried to note the value of the stocks when I
suggested that they would be bottoming...
[12:46] <KenWolff> 9:46:45 I have the following noted:
[12:46] <KenWolff> 9:47:01 Please DCC all questions to ??
[12:46] <KenWolff> 9:47:06 simon or nesi??
[12:46] <_dadylonny> k
[12:46] <Nesi> Please, Double Click on Nesi to send questions for Ken.
[12:46] <KenWolff> 9:47:22 thanks nesi..
[12:47] <KenWolff> 9:48:02 I called a buy consideration on YHOO 123 ,,
AMZN ,, 105 ,, XCIT 37 1/2 ,, LCOS 30 5/8 ..
[12:47] <Nesi> 3 questions waiting..
[12:48] <KenWolff> 9:48:48 I was stopped out on AMZN at 105 ,, and YHOO at
123 .. next bottoms were AMZN 104 ,,, YHOO 121..
[12:48] <KenWolff> 9:49:08 after those bottoms the stocks climbed very
well.... |
