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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?


To: - who wrote (1649)7/8/1999 1:05:00 AM
From: keith massey  Read Replies (2) | Respond to of 18137
 
I have found that Price almost ALWAYS, proceeds news... in other words, there IS "smart money

Normally...however I went and looked this morning to see if I could have predicted the drop in NEON from its previous chart. Sure it did a small bounce off a top in the last couple of minutes before close but I would never have predicted the drop today. I would love for someone to point out something in NEON's chart that would have predicted a plunge of this magnitude. This is the main reason why I don't like holding overnight.

Best Regards
KEITH



To: - who wrote (1649)7/8/1999 1:07:00 AM
From: Teresa Lo  Read Replies (2) | Respond to of 18137
 
Well, I actually have CNBC turned on most of the day on low volume...many years of training has me listening only to the tone of the voices and from that I can tell what market sentiment is like out there - and most times, it's a completely contrary indicator. For example, a lot of times when they're totally euphoric, like yesterday at lunch at the top, and then at the bottom, they're quaking in their boots...it's interesting.