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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 687.57+0.7%Dec 10 4:00 PM EST
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To: StockOperator who wrote (9893)4/5/1999 7:53:00 PM
From: Compadre  Read Replies (4) of 99985
 
Stock Operator: I agree that you have to be nimble in this type of market. As a matter of fact I sold my QQQ shares at the end of the day because my system had a sell signal all the way till the last ten minutes, only for it to reverse back to a buy signal at the end.

I believe that you should just follow what the market is telling us to do today. Leading indicators like the advance / decline and new highs / new lows are only good for what they are intended to do: A warning. But I find that if the market is going to go down, it is not going to do that overnight. I usually takes a period of at least 2 weeks, and during that time, you can usually exit with a small loss.

For instance, I have been reading the posts of the bears in this thread, and for more than 2 months now, (may be longer) they have been saying that the top was coming because of the bad breath. Let me just point out one thing: The NDX gained approximately 220 points since the point that most of us thought it was going to break down in march. 11 % in a month is not too shabby and I would not look down on it.

Yes, there are risks, but as long as the indicators are bullish, the risk is small, until such day that they turn bearish.

So my strategy is to trade the short term signals on the strongest index. I believe this is just as good as to short the weakest of the stocks. I is just my opinion. <BWDIK>

Regards,

Jaime
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