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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Rarebird who wrote (41424)	2/26/2000 2:07:00 AM
From: Michael Watkins	Read Replies (1) \| Respond to of 99985

Secondly, when you refer to the tech market and new era as "rubbish" your talking outside the realm of your charts and your speaking like a typical bear with the accompanying moral garbage that comes with the label. Lets check back in a year and see. We'll see how many of the same stocks everyone is chasing up to insane valuations are at new highs next year, or are closer to new lows. Its all but a given -- due to their current profits; chance of profit and chance of failure. Seems that folks just don't recall all the tech business failures over the years, but prices do not factor in the likelyhood of failure in any sense. Does this make me bearish or realistic? I prefer the latter. Very few bulls I've met are realistic at all, and most lay investors seem to believe that markets always go up. Always and never are terms that do not belong in life or business or the market. You will detect that after the fact. You are abolutely right, I will detect it after the fact. And it may be a surprise to you, but its the best way. It can be done on a 15/45 minute chart or even a daily. I enter with buy stops above a low and the stock takes me into the trade by proving its strength. Usually very little of the gain is given up, and on initial entry, very little risk and no bravado needed. Its the sanest way of trading and reducing risk. But if that makes no sense to you, go on, catch them falling knives! And we can just agree to disagree. Cheers mw