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Strategies & Market Trends : Technical Analysis - Beginners

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To: TA2K who wrote (9948)	3/25/1999 2:14:00 AM
From: BreakOut	Read Replies (1) of 12039

To all, All the talking heads running around giddy about DOW 10000 possibilities. The DOW by design must go upin the long term. this is because if a stock stops performing (over a number of years)they say its not indicative of the market and replace it with a better company. Anyway, When we blow through 10000, you'll see it on the cover of Time, Newsweek, National Inquirer etc etc.. Which in turn will have every Tom Dick and Harry jump into the market, at somewhere near a short term top. My next door neighbors 16 year old son has a E-trade account now! Gotta love this country!!! Anyway, what i want to say is those that trade the small/midcps know this hasn't been an easy market. If you trade the Rut-x you should be looking at it everyday. What do you indicators say? are they possitive or negative? what do you see as short and intermediate trends? where is support/resistance? Where are the moving averages? Should you be 100% Invested? 150%? 50%? 0%? If you use scans daily (such as breakout scans), are you getting an average amount of hits, or many more or many less? If you trade long are you fighting the trend? ever swim against a current? spit into the wind? who knows, but some may say we need a bounce NOW. thursday may tell the story. stay sharp.

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