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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime -- Ignore unavailable to you. Want to Upgrade?

To: The Devil Dog who wrote (22614)	10/19/1999 5:17:00 PM
From: Cameron	Respond to of 62348

The nanos.... Well... they called the market @ 6820 and it came in at 6850.... gooooooood for them!!!! Unfortunately that isn't really what I wanted to see.... what I wanted to see was a large overshoot with the market closing above 6970... which would have been a solid signal that a relatively significant bottom had been hit. As it is, the nano and actuals were right on yesterday and there was a minor overshoot today. Based on history, that means one of two things: 1) Tomorrow we see the large overshoot and the reversal is confirmed... a day delay like this has happened before but generally the subsequent reversal is only moderately strong. The nano number for tomorrow is 6850 so a 150 overshoot would mean the market needs to close near 7000 tomorrow for this scenario to kick in. 2) We don't see a large overshoot which basically means we're travelling sideways more or less until further notice. The fact that the two lines met yesterday and the nanos maintained even a small overshoot today would indicate that we shouldn't see a continuation of the downtrend.... they have been quite consistent in the past in this regard. In any event, I'm still hopeing for scenario 1 but I guess time will tell.