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Strategies & Market Trends : Technical analysis for shorts & longs

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To: shasta23 who wrote (18229)	11/3/1998 1:34:00 PM
From: Clint E.	Read Replies (2) of 69173

Hi Stefan. I will answer some but not all of your questions: Two weeks ago I mentioned that stocks haven't finished their uptrend and expected the top to arrive sometime during the 1st. week of Nov. The reason that I picked this week was because I expected investors' focus to shift from earnings to economy and further rate cut in Europe and the US. I said something like if the market is hyped up in expectation of further cut by AG, shorts would have a decent shot at making money(as we pull back from the top of our trading range that was/is to be determined). At that time I saw signs of uptrend still intact so I looked into the future to see what forces could be driving the market higher in the coming weeks and I picked this week due to our unemployment report and the Bank of England & Bundesbank meetings. Basically, I was saying that we would hit some kind of top after all the good news is out. I haven't seen any sign of topping out yet and we still have to wait to see if there is a rate but by England and Germany. I have thirteen indicators, some of which are simple technical indicators like 50/200 dma of major indices & leading stocks.(I just use the YHOO site for that. Nothing sophisticated. quote.yahoo.com^DJI&d=1ym). I have a ton of my own "micro" indicators, many of which are intraday/daily indicators. They are very up close and personal and they work. I have mentioned some of them in the past. There are repeating patterns to look for during a turnaround, pullback, or uptrend. I know those patterns and I look for them. The most important indicator to me is the reaction of the market and stocks to GOOD news, BAD news, and NO news. If you can master reading the tape during good/bad/no news events, you have won most of the battle. Stefan, the market is like a changing, living, & breathing entity and I have spent years studying it to the point that I feel the market. I live this market. I started out (seriously) by reading and watching anything related to stocks for hours on daily basis for a full year. It took a while and I even had the misfortune of loosing large amount of money but I finally learned how to read the market and what to do and not to do. I stopped reading and listening to all the noise in the media. I didn't need their fear or hopes. It was all in the tape. In time, you will get there too. Clint

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