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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 660.08-0.8%Nov 18 4:00 PM EST
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To: Compadre who wrote (14854)5/25/1999 10:48:00 PM
From: StockOperator  Read Replies (2) of 99985
 
Jaime,

Sorry it's taken me so long to get back to you, I had a busy day both trading and doing personal things. Anyway, unbelievably I had a great day in the market playing on the LONG side. I follow quite a few companies of all different price ranges and a few of them have made substantial moves in the past week. One of my best strategies in the market is to look for deeply depressed stock prices on companies where the insiders have been buying. Once I find them I technically break them down to find the ideal buying time. I've discovered over the years that the insiders are often very early in their purchases and most of their company shares continue to drop after they buy. So it is very possible to make big money even in an market environment like this.

In regards to the market overall. The nutz as a group and then the tech's are showing the greatest damage here. Many of these stocks are beginning to free-fall which to me anyway is indicative of prices shaking off the lose holders. But because this rout may acutally be in it's early stages I will not jump in front of a moving train until I get solid confirmation that this downdraft may be over. Which btw, I did see a few signs of that today, especially in some of the recent ipo's in the nutz sector.

Still, I am in no big hurry to go long the majors. If this is a shakeout it should resolve itself pretty quickly.

Watching and waiting.

Regards,

SO
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