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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less..... -- Ignore unavailable to you. Want to Upgrade?

To: TATRADER who wrote (10221)	7/13/1999 10:37:00 PM
From: JACK R. SMITH JR.	Respond to of 59879

Trader and all, I continue to promote the S&P 500 as an index that day traders should watch closely for market direction. Others may have favorites, but my bias is toward this one. Looking at the daily charts and drawing a line across the top of the Apr 12 high, the Apr 26 high and the May 15 or 16 high and projecting that to the right, I see a line at which the Tuesday last week approached and the Monday opening reached, but did not exceed greatly and then closed significantly lower. 14 bar stochastics are pointing lower for the daily chart. This is confirmed on the monthly charts. Commercials are neutral here and holding a neutral position. (monthly basis) Daily rsi is declining. On the 60 minute chart the July 12 open with lower close stands as the near high with a decline from that. A line across the decending tops indicates a declining trend, but we are near a 14 period stochastic cross and the next trading day could react to 1412 -18. If not then todays trading can be seen as an intermediate peak with decline pointing to near 138?. Hope that helps anyone! On a personal note, have been beating up my credit card with AMZN and have digested three day trading books, two of which are blah and one is interesting at the start. One thing that I hate is an interview with a successful trader who just says that he traded on the floor and now he is trading upstairs and you just have to have a feel for the market. I understand that many successful traders are successful just because of that, but why interview them? Should I go stand by the trading pit and hope that I feel it coming? Chicago ain't that far away for me, perhaps I will do that, Stand and wait? Just joking, perhaps, Jack!

To: TATRADER who wrote (10221)	7/14/1999 7:41:00 AM
From: Robert Meany	Read Replies (1) \| Respond to of 59879

Mark: Think I will watch PAGE carefully today and tomorrow, don't have to go to work till Friday, and look for an entry point around 5 1/8. Also, caught lots of fish (charter in Lake Michigan) Coho, King, Lake Trout, and Steelhead, biggest of our group was around a 14 lb lake trout. Bob

To: TATRADER who wrote (10221)	7/14/1999 10:16:00 AM
From: michael liu	Read Replies (1) \| Respond to of 59879

close watch PAGE, will enter at any time. work on NETA.

To: TATRADER who wrote (10221)	7/14/1999 10:58:00 AM
From: majormember	Read Replies (1) \| Respond to of 59879

Mark...VPHM, out with +6 points..THANK YOU! I owe you, Great Call! ...........Skane bought CS at 14 1/16, moving nicely...we shall see if rumor pans out. P.S. I got the "Small Cap" service, should start soon.

To: TATRADER who wrote (10221)	7/14/1999 11:56:00 AM
From: id	Read Replies (1) \| Respond to of 59879

Similar charts for TIE, XICO, APLX. I appreciate the shared knowledge on the SI threads like this one. One of my favorite trades is to buy an uptrending stock on a pullback to support, usually a 21 day or 50 day MA. Not rocket science but pretty effective when I don't shoot myself in the foot <g>. TIE is further along than the other two and I wouldn't buy it now, (though that doesn't mean it won't go higher). I'm in XICO at 3 3/4 and APLX at 8 5/8. Probably hold at least a day or two. id