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

To: Eric P who wrote (4890)	10/17/1999 12:03:00 PM
From: DismalScientist	Read Replies (1) \| Respond to of 18137

Hi Eric: I don't know how the market will open tomorrow, but as I was reading your post I heard Sam Donaldson on This Week blame the drop in the market on daytraders. I noticed that the Earthquake in California was not too far from the site of the Daytrading EXPO in Ontario. How long will it be until someone blames the earthquake on daytraders? Regards and good trading Alan

To: Eric P who wrote (4890)	10/17/1999 12:48:00 PM
From: RC Stein	Respond to of 18137

VCALL had a nice interview with Bob Brogan on Friday. If I remember correctly, he thought Mon and Tues would both be down, maybe to 9700, and the possibility of a recovery starting Wed. But if no recovery Wed, he thought it could get down to 9400 before a recovery starts. Brogan is right a lot, and I try to listen to him whenever possible. (doing this from memory, so I might not be accurate) RCS

To: Eric P who wrote (4890)	10/17/1999 3:20:00 PM
From: Herc	Read Replies (1) \| Respond to of 18137

Not only has the NASDAQ not had its usual 5-7% rise over the last peak, in July, but it pulled back 7% from its recent Oct. peak, which was only a paltry 2% over the July peak. And I still remember last Oct. 8 when stocks rocketed. And the NASDAQ is overbought compared to the NYSE because that's where the growth is. So there are really some bargains on the NYSE. The NYSE adv/dec and hi/lo lines are terrible. Do the people on this thread ever buy non tech stocks? So I ain't scared if history is any guide!

To: Eric P who wrote (4890)	10/17/1999 5:34:00 PM
From: TraderAlan	Read Replies (1) \| Respond to of 18137

Eric, <I sense the exuberance of traders beginning to fade> My site is having its best month since July in selling the trading course and audio tapes. Also traffic to several other (brother and sister <g>) sites is way up over recent months as well. Believe my market evens out and does better than some of the competition as TA is less flashy than LII but keeps its sex appeal in all types of markets. BTW I just finished up my best 3 months in the last 5 years. Probably about 60% long and 40% short trades. Always knew I hated strong markets <g>. Alan

To: Eric P who wrote (4890)	10/17/1999 8:11:00 PM
From: Craig Gordon	Respond to of 18137

Eric - Great post. I wish to add that THE TREND IS YOUR FRIEND!! Go with it. You will fly farther and happier.

To: Eric P who wrote (4890)	10/17/1999 9:28:00 PM
From: Ramsey Su	Read Replies (2) \| Respond to of 18137

Eric P, on the subject of longs and shorts ... I was trying to short qqq about a week (may be 10 days) or so again and my broker, Dreyfus, called and said no more to short. As of Friday, they still don't have any to short. Does anyone else have same experience? I thought qqq is supposed to be extremely liquid. Anyone care to explain what may be going on or just a coincidence? Ramsey

To: Eric P who wrote (4890)	10/18/1999 12:44:00 AM
From: -	Read Replies (1) \| Respond to of 18137

re: General Market Commentary... Well, although the Globex Futures are trading off very modestly (a couple of points) tonight, I would expect the market to want to bounce here (sometime Mo or Tu)... remember, the powers that be did most of the damage Friday early when they marked the whole thing (S&P's and Stocks) down excessively at the open... the market responded by recovering most of the gap. The market rollover late in the day probably had more to do with expiration, than true sentiment (clues: the Bonds rallied into their close; and the techs weren't that weak)... Greenspan's comment boiled down to a repeat of his 30-year old, oft-repeated cautious attitude toward stocks as an investment. If you take that PPI number apart it's mostly tobacco... now we DO need a cooperative CPI number this TUES to head back up. Lots of hot IPO's on the burner this week. The best clue of all? EVERYONE says we're going down for the count, the end is near, etc... perma-bears reappear on CNBC... statistically, that crowd provides an excellent contrary indication -- their timing is attrocious -- (have you been "Garzarali'd" lately?) I do agree with Alan's astute observation though, that there are just too many hearts for the market to break below 10,000... so it will surely go down there in any way possible, perhaps after a bounce (it will take a catalyst to get there). Maybe tomorrow? Or surely if we get a hot CPI. No one really knows, all you can do is speculate in an informed fashion. -Steve