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

To: Eric P who wrote (5524)	11/19/1999 10:03:00 PM
From: kaydee	Respond to of 18137

Can someone please point me to a good source for Real time Dow Jones/Reuters/AP etc news feed? I use Qcharts with level II, but Qcharts does not provide news feed. (I called Qcharts and asked about their plan for news feed, I was told they are not planning to provide in the immediate future, as it takes a lot of band width...) Question to Qchart subscribers - What sources do you use to get real time news feed? Thanks in advance, DB

To: Eric P who wrote (5524)	11/20/1999 11:36:00 AM
From: Roger Bodine	Respond to of 18137

Iric, What I do at the end of each day (while the memory & feelings are fresh) is to ask myself 'What did I learn today?'. This is about what Not to do as well as what To do. I sit quietly, without distractions and ask the question. The answer may come right away or maybe an hour later. I type the question or answer on a daily list I keep on my PC for future reviews. This helps me to keep on course for sound moves and very important, a sound attitude. Roger

To: Eric P who wrote (5524)	11/20/1999 12:16:00 PM
From: John Koligman	Read Replies (2) \| Respond to of 18137

In case anyone is interested, the NY Times Sunday Magazine cover article this week is titled 'The Solitary Obsessions of a Day Trader'. The cover photo shows a guy staring at a chart with a rather 'manic' looking eyeball. I checked the Times website, it still has a copy of last week's mag, maybe they post the current issue tommorrow. Anyone can access the paper free with registration. Regards, John

To: Eric P who wrote (5524)	11/21/1999 12:07:00 AM
From: -	Read Replies (1) \| Respond to of 18137

re: Turtle Soup. Close, but not quite: The Turtles were trained to buy 60-day breakouts. Most breakouts failed (but the Turtles were still hugely successful, because of their money-management and trend-following rules). In their book "Street Smarts", Linda Raschke and Larry Conners described a clever, scalping-oriented fade on that classic trading methodology which they playfully dubbed "Turtle Soup". In otherwords, sell-stop the new high in anticipation of a failure. The best time to do this is right as an issue tries to trade through a clearly-defined prior overhead resistance level (e.g. a well-formed prior top, such as a Trader Vic 2B double-top formation, per www.intelligentspeculator.com). You could also apply it to a straight 60-day high, but the odds of getting the desired failure are much lower; however double-tops fail the retest quite frequently. So, the Turtle Soup name was intended to be a bit of a fun "shot" at the renowned Turtle traders. Linda Rascke tends to do that, her latest trade being touted in advertisements for the Raschke-Cook $3k weekend seminar is dubbed the "short skirt" trade. Should be a winner too! :) -Steve

To: Eric P who wrote (5524)	11/21/1999 12:09:00 AM
From: OZ	Read Replies (1) \| Respond to of 18137

Eric, You might also want to mention that the setup is ALSO called a Trader Vic 2B/TOP and 2B/BOTTOM. It is mentioned in his book Trader Vic- Methods of a Wall Street Master. It was published (1991) a full 4 years before Street Smarts. I like to call the tops Turtle Soups and the bottoms 2B/Bottoms. Also, it is important to mention that the 2 tops or bottoms can be months or even years apart and the bigger the chasm between the lows and the highs, the more powerful the play. This is because the selling (buying) pressure will be even stronger since the bagholders are REALLY eager to get their money back since they were totally in the hole and now have a chance to get their money back. Also, the T/Soup Plus One is a safer play in my opinion. Same play except the breakdown occurs the next day AFTER the high (Low). I made up a new name for a failed "Cup and Handle" Breakout. It is called a "Cup of Soup". You heard it hear first. Regards, OZ