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

To: keith massey who wrote (1651)	7/8/1999 1:47:00 AM
From: -	Read Replies (1) \| Respond to of 18137

Keith, Yes I should have qualified that... didn't mean that I believe smart money "always" knows... just that any information that is available, from any source will work it's way into the chart first. There are plenty of REAL SURPRISES that don't get leaked, like the NEON news, that result in sudden 'discontinuities' due to a reassessment of the value of the stock. That's one reason why they have "locked" limit up/down trading levels in the futures market. There is so much leverage there, think what could happen if you were long a few (or even just one) S&P futures contracts and some unfavorable, unexpected global financial-related news broke... instantly, you could be wiped out in a hurry without the benefit of the limit down/up levels. When the market goes limit up/down, it gives emotions a chance to cool, and traders to work their way out of their positions (and, brokers to make their margin calls/liquidations so they don't end up holding the bag). Same thing, real surprises are still a potential in anything you trade. Can happen to any market, any trading vehicle, any day intraday or end-of-day. To deny it, is to kid yourself. Stops help, but they are no guarantees issued :)... -Steve