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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: shasta23 who wrote (24166)	10/28/1999 12:22:00 PM
From: shasta23	Read Replies (1) \| Respond to of 69917

Nice gap up in the morning in the markies but what's next. I didn't do anything since most of the action i could see happened already pre-open. Since then the market has actually risen further into some resistance zone while a lot of the stocks on my watchlist are around their daily lows(PHCM,ARBA,Specialty semis like GALT,TXCC,PMCS). Doing well are the fibers: LVLT looks interesting as if it could break finally above 67 for could on it's third attempt.QWST, MFNX are also doing ok...the question remains: where do we go from here? Stefan

To: shasta23 who wrote (24166)	10/28/1999 2:09:00 PM
From: d. alexander	Read Replies (1) \| Respond to of 69917

Stefan; I know I learn from reading your posts! What Harry mentioned >>>One of the goals of this thread early on was to promote the expression of one's trading psychology. & you also brought up about temperament has me thinking quite a lot. Today e.g. (& VBG) I was thinking, hey, this may be a market for my temperament. Then there's that other thing that happens reading the thread - I really get very bashful about certain inadequacies (which can be related to temperament), inexperience etc. & sometimes even feel like not looking so I won't feel so..deficient. Maybe that's also related to whether or not one is doing fairly well & since about May (ouch) my equity has been making lower highs & lower lows. (Am still ahead for the year) In a strange way, your drawbacks can also work in your favor. I take a lot of risks. Well, I'm optimistic :-) and Bank One is cheering me up today. I seem to be doing ok with my bottoming scan. Thot you might be interested in this re: the near term, which rather keys in with Harry's comments. For morning of 10/28/99: Between the favorable seasonality of late October/early November and the high OEX put/call volume ratio, this is a relatively "safe" period for the market. Although explosive gains are not promised, declines and drops are less likely to happen and will be muted for the short-term. The market timing model has the chance of the OEX (683.82) breaking below 670 within the next two weeks at zero percent right now. On the flip side, 710 is only 10 percent likely to be broken either. But then what Clint does seems to grab the ebb & flow so perfectly. It's certainly the stocks, but doesn't do you a darn bit of good if you don't hit them right! Dorothy

To: shasta23 who wrote (24166)	10/28/1999 2:53:00 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69917

Stefan and Dorothy, SP500 now on a sell signal. I am looking for a test of the middle of the gap at 1313. I expect it to hold. If we close north of 1313 we will have broken the upper down trend line which started in July. The next target would be 1361. If we get follow through on today's rally, it looks like we go higher before we go back down. I would be looking for short term longs if we get follow through tomorrow. It is a nervous market though, so sit close to the exits. Harry