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

To: Richard Estes who wrote (5247)	11/7/1999 6:29:00 PM
From: TraderAlan	Respond to of 18137

Richard, I first wrote that article back in about 1996. I updated it today just changing most of the "tape reading" to "level II". It's the same flow with more detailed info. I don't use GSCO or MASH to buy or sell but follow the number activity the same way I did when it was all on one line. I do use LII to find ISLD or INCA for execution. I suspect 99.9% of the time, you can't predict the next move past 1/4 point. The other .1% something is going on that the trained eye for that thing can see and make a play from. I think all the old floor folk who've gotten their B-Ds and set up shop have a vested interest in making it all sound like a big, dirty scalp game. That's likely the only strategy they used when they were out chasing it. It's one of the reasons I like Marc Seleznov from Trend Trader. He was on the floor of the Philly exchange, opened his B-D but still preaches basic TA support/resistance, MA crossovers, etc. Alan