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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: TFF who wrote (7226)5/10/1999 7:37:00 PM
From: TFF  Read Replies (3) of 12617
 
Good Summary Of Current Trading Environment By Briefing.com:

DAYTRADER: Oil services have been working. Basic materials and cyclicals have outperformed. But while renewal of interest in the blue collar stocks has almost single-handedly lifted the Dow through 11,000, the portion of the market that professional traders have relied on to pay the bills has been decidedly negative. As Yahoo! chart shows, the stock has fallen almost 40% over the past month. Over the past two weeks, Amazon.com (AMZN) and eBay (EBAY) down approximately 40% and 20%, respectively. Experienced traders have learned that an Internet correction sweeps over the market at least once a quarter. Unless one also willing to short stocks (which has become increasingly difficult and dangerous), this is a very challenging environment in which to day trade. Under these conditions, trading strategy switches from participating in break-out moves to buying stocks on weakness and hoping that support holds. Likely that those novice traders who have not adjusted their trading style to adapt to recent change in market conditions being haunted by the constant sucking sound caused by self-inflicted account churning. Unless they are able to stop the bleeding by falling for fewer head fakes and applying more stringent loss management controls, many of these pour souls won't be around to participate in the next Internet momentum move.
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