Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Chip McVickar who wrote (29870)	8/10/1999 9:30:00 AM
From: coug	Read Replies (1) \| Respond to of 44573

Good morning Chip, Well we got some overnight weakness as I thought, a little more than expected but I'm hanging in there expecting a rally attempt.. I don't know but I think we are due.. I am on a directional buy so I will play it that way until things change I agree with your assessment about the charactor of the markets.. no sustained moves either way du to the tech revolution.. we are all in the pits or market makers.. less clubby little action.. a good thing imo. good luck today...coug

To: Chip McVickar who wrote (29870)	8/10/1999 10:15:00 AM
From: bearshark	Read Replies (1) \| Respond to of 44573

Chip: In their book on technical analysis, Edwards and Magee describe the differences in charts and patterns caused by regulation and changes in regulation. They also discuss how certain patterns do not appear as frequently as they did before. So patterns or their frequency of appearance change. The information I use definitely changes with different markets and it will not work in certain markets. So if something has stopped working for me, I am alert to the possibility that the market has changed. If we do not have the formation of a bottom next week, then I will wonder more. Last year, the low point was on August 31. I did begin setting small positions from 10,900 to around 10,850 but stopped accumulating positions because of the change in my data. We are now 200 to 300 points below my entry point and I will hold these positions until I see next week. At this point, I am not ready to conclude that the broad markets, including the INDU, are in bear markets. However, I consider the DOT, IIX, etc. to be in the second leg of their bear market now.