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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: Joe Lyddon who wrote (8318)	6/15/1999 9:12:00 PM
From: ~digs	Read Replies (1) \| Respond to of 57584

Just returned home from work and am reading the day's headlines... Regarding extended trading hours on the Nasdaq (to be initiated this fall according to today's announcement): One spin that I am surprised to have not yet heard... Isn't it possible that part of the motivation for these increased trading hours is to help curb daytrading? Given my own current set of circumstances, the extended hours would be most beneficial since I'm almost always working while the market is open (officials boast that this issue is the primary reason for extended hours... it allows some people to trade independently whom otherwise would not be able to). But... we all know about the resentment by some of the big wigs towards day and swing traders. Institutions will often spend countless hours researching their next major purchase only to see the price increase caused by their buying dwindle as savvy swing traders take their profits. How is it that these short-term traders will be able to follow the market for so many more hours? Not easily, and I think that is part of the motivation for extended hours... the allowance for late trading is far more conducive to the long-term investor than the short-term 'scalper.' As someone who follows the market routinely throughout the day, you'ld now be watching the ticker for an addtional 10 (?) hours per week... and if you can't handle it, you better set your limits before shutting down. Would appreciate any opinions on this. The whole extended hours idea came on pretty fast IMO and I am surprised at how quickly it's going forward. BTW, NYSE said it would be ready for late trading by no sooner than Y2K... as if it's urgent or something. ---------- Regarding unanswered PMs, will try and respond ASAP, prolly this weekend)

To: Joe Lyddon who wrote (8318)	6/17/1999 8:52:00 PM
From: Joe Lyddon	Respond to of 57584

At Bottom? IIX has formed a dbl.bottom (W)... (on 6-15-99) If it goes a little higher, we're going to 265+ & it's over (bottom hit) & we're going higher; else, we could just wander around for awhile. That's my SWAG. (IIX=Internet Index) I studied the chart @ clearstation.com I think my guess was correct... NOW, however, it looks like we're heading downward: If it breaks below 287, I think it will go to 282. If it breaks below 277, I think it will go to 265. If it does not break below 287, it will probably go higher. Small dbl tops & Head & Shoulders are the main patterns I see. This is another SWAG... IMHO, Joe