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

To: - who wrote (1817)	7/13/1999 1:07:00 AM
From: Paul Viapiano	Respond to of 18137

Oneill is definitely a good position trader. After taking my lumps as a newbie investor, I went to one of his free seminars (basically selling subs to IBD) and took a trial on Daily Graphs, too. My first 3 picks from Daily Graphs, based solely on chart patterns, were up 200%, 75% and 68% within weeks. I became a TA believer immediately and continue to this day. Stopped doing ratios and fundie analysis and improved my results dramatically. Now when I find myself doing FA on a holding, it's a sign that I should get out. I'm know that I'm looking for reasons to hold when TA is telling me to get out. Paul

To: - who wrote (1817)	7/13/1999 1:15:00 AM
From: Paul Viapiano	Read Replies (6) \| Respond to of 18137

A question I've wanted to ask for a while: When people ask you what you do, do you hesitate to say "I'm a trader"? When people ask me if "I'm really into trading..." because they heard about me from some close friends, I tend to blow it off and understate it, like "...I like to watch the market now and then." I embarassed to admit what I do. I think it's because of the really negative press surrounding daytraders or that I don't want them to know that I trade so intensively. Any one else have that problem? Sometimes when we're out with friends, my wife might mention that we get up very early, etc...she gets ready for work...Paul's up early for the opening bell...etc... Invariably someone will snicker, like, "yeah, sure, who's he kidding?" kind of thing. Makes me feel awkward a bit and I just let it drop. I'm kind of private about money matters and I only discuss stocks with about 2 people in person ever. I think if some of my friends knew I was doing this as a business venture they'd want to commit me. Any thoughts on these feelings and has it happened to you? Thanks, Paul

To: - who wrote (1817)	7/13/1999 1:19:00 AM
From: Raymond Duray	Read Replies (1) \| Respond to of 18137

Steve, A little trading here. More on O'Neill's past for an explanation of "overhead supply". During the runup of Syntex, O'Neill used his increasing net worth to move beyond stock brokering for another NYSE member firm and struck out on his own, with the suitable and appropriate NYSE membership for Wm O'Neill and Co., Stockbrokers. Headquartered in LA, O'Neill's greatest inspiration was the meticulous effort that went into building the mainframe computer system that house the company's records and eventually a huge mass of data on all actively traded stocks. The Daily Charts service and the IBD are direct descendents of that database. The newspaper was something started as a bit of an ego stroke and a pet project for Mr. O'Neill. He neither needed it for income, nor did it produce any for a number of years. The other operations of the company subsidizing its existence. Now on to "overhead supply", I take it this is not a plumbing fitting. Please educate a clueless one. Ciao, Ray