LG: To a tape-reader, these are not gut feelings. They are a key to survival. I have my own set of numbers, charts, and spreadsheets that I use. To me, they say what should happen. However, to me, the tape says what is happening. When I am in front of the tape or an internet format of it, I feel like I am one with the market. That feeling is absolutely vital for me. If I do not have access to the tape, I close all positions without blinking. You should see me when the exchange's computers go down.
I gravitated to tape-reading as soon as I knew there was a stock market. For some reason, it fits my personality perfectly. If you see one of my notes saying that something is wrong or something is right, it is an instantaneous read of what I am seeing. I know it sounds silly and maybe crazy but I think tape readers must all be a little crazy.
If you want an example of this, several weeks ago I posted a note to you. It noted that I was seeing something different in the market. I remember saying it was subtle but it was there. You will also see an exchange with Jaime. I even said that it would be obvious in a few weeks. In the evening, after reviewing data, I sent posted a note to you saying that I saw a mirage. However, my tape reading was right. I saw a broadening of the market about two weeks before it was obvious simply by looking at posted numbers.
I am one of the true dinosaurs. So please, be understanding of this poor old tape-reading fellow. |
