Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: TraderAlan who wrote (6217)	12/28/1999 8:16:00 AM
From: Matthew L. Jones	Read Replies (5) \| Respond to of 18137

Thanks guys, for your help on this Fibonacci discussion. I appreciate it. I am sure that there is a certain amount of validity in the Fib numbers, probably as much because there is some "built in" or "genetically programmed" disposition to these ratios built into the human psyche as because people use them deliberately. When I did a ten year study on the intermediate price moves in the Nasdaq 100 index, I found it quite interesting that the average retracement on the NDX was 62% of the previous move. This was constant over 10 full years. Coincidental? I doubt it. You guys also raised an interesting point-- kind of a "which came first, the chicken or the egg" thing: does the widespread use of a T/A tool negate it's validity? I, personally, would be happy if everyone out there used the same indicators and tools. That would give me a more predictability regarding the "madness of crowds". I did a study on different moving averages (as support-resistance) on the S&P futures. I looked at every conceivable time frame and length, both simple and exponential. Funny thing was that I could not find a single one that had any degree of consistency (maybe slight correlation on the 10 and 20 but pretty random). The only consistent support-resistance levels were the previous day's high and low, the current day's high and low, and major turning points like 52 wk highs, etc. That is why I am so enthused about the viability of the Fib numbers because they seem to work (for whatever reason-- subconcious or conscious). Thanks again for the discussion. Matt

To: TraderAlan who wrote (6217)	12/28/1999 5:26:00 PM
From: Robert Graham	Read Replies (2) \| Respond to of 18137

I would like feedback from you and other experienced day traders of stock. I am currently trading the S&P Futures (SPOO). I am attempting to put together a quote page in QCharts that will list a series of stocks and indices that I can use to keep abreast of the market. One look should be able to tell me everything that I need to know. Specifically, it should tell me where the money is moving to (or not). Here is the list I came up with. I hope you and other can provide me feedback to see if I have correctly chosen the stocks and sectors that best represent this current market. For the indices, I follow the DJIA, DJTA, S&P 500, and NASDAQ Composite, and the NASDAQ 100. Also for stocks, I look at the bellweathers MSFT, INTC, CSCO, ORCL, and AOL. For the representative sample of the Internet leadership, I look at YHOO, AMZN, QCOM, CMGI, and EXDS. I may be out of date here with respect to the Internet leadership, so please correct me if you know of better choices for this ongoing rally. For bellweathers of the market itself, due to its tech bias, I look at IBM, GE, T, and LU. I am open to suggestions for additional market bellweathers. For sectors, I look at the Computer Technology, the Internets (DOT), Biotechs, Financials, and the Cyclics. Finally, for use specifically with my future related trading, I look at the long bond, the dollar, and the CRB index. I am thinking of adding crude oil to this list. Any comments? Thank you! Bob Graham