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

To: E. Davies who wrote (5562)	11/21/1999 5:35:00 PM
From: TraderAlan	Read Replies (1) \| Respond to of 18137

Eric, Certainly don't think it's reason (or good P/E, value, etc) that drives the markets. The market often sharply trends in one direction or the other in advance of important econ reports (or supposedly well-guarded news) and then turns out to be absolutely right. Somebody knew something, it seems. The market rallying in advance of the new year tells me that the "smart money" doesn't think there will be an equal opportunity after 1/01. Are they right? Does it really matter <g>? If you look at index charts, you rarely see one trend give way to an opposite trend in a single bar or two. The future discounting mechanism appears to work very, very efficiently. Alan

To: E. Davies who wrote (5562)	11/21/1999 6:19:00 PM
From: Mark Davis	Respond to of 18137

Make no mistake, a healthy respect for what 'the market' knows will keep you and your bankroll out of a good deal of trouble, but hear this. It is remarkable how often there is SIZABLE stock for sale just prior to huge , explosive breakouts. Either those sellers are closet philanthropists, leave resting limit orders and don't care about getting ripped off, or HAVE NO CLUE. So, while the market knows plenty , there are many times where there are participants that are clearly on the wrong side of the next move. Size available against the trend is frequently a poor reason not to take the trade.