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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (27111)	6/20/1999 3:30:00 AM
From: IQBAL LATIF	Respond to of 50167

I know a person a good friend of mine who shorted S&P at 755 when it broke thru that resistance never to see it back, many shorted at 1030 and covered above 1130, so people who think this is one hell of artificial market do it all the time. I know many who were shorting IBM INTC TXN MSFT back in 1997 on these very on SI. Going by the posts on SI I have list of 'nifty fifty' posters who are 'perpetual technical shorts', it is fashionable and more in to be short than long. All these shorts know to look the otehr way for last three years when the predictions go horribly wrong and moreover they know how behind decency and nicety they can support each otehr badly placed trades and wounded egos by saying we will one day will be winners. If you look and read their posts out of 10 posts nine predicts a short trade. The problem on SI is the people who are more vocal are the guys who think they know the market well as they have competence in area of TA, unfortunately TA is few lines which will give a message according to the bias you have, they have been unable to judge on TA alone the market direction, I can see it bacause I am apart of it from 755 to 990 and fromn 990 to 1130 and from 1130 to 1380 are three distinctive phases of the market, most of these people are stuck in that 400-550 phase mantally, they thought the market to be fully valued than so at 1380 naturally it is like Nekkei 2 waiting to implode. Comparisons with 1929 or 1987 or help from 'hand of God' are features based on which they have so far kept their shops opened. The markets and TA have diverged and these guys do cut a sorry figure. However, I would always suggest that one should be 'opportunist' in this market and not a short or long. One should have a good portfolio and a good trading acount the two should go hand in hand, naturally I would not like to time my entry when to build my core account but always when a sector is down and out at certain point when it looks to be going out of business that is the point to enter, on OSX, on SOX, even DDX we have been successful in that, even on DOT I entered very late but after the first siginificant sell-off where we saw DOT at 420... last is the fact that 200 50 days MA bouncing points and breakouts are most sensitive and one should be careful not to short the market when breakouts happen. Same goes for dowside breaks once 50 days MA or 200 days MA are broken or major supports are taken out it is laways helpful to trad in the direction of the break, but picking the false break from the 'break' is the art we try to perfect, we just try and will keep trying so far it has been good.