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

To: Michael Watkins who wrote (41434)	2/26/2000 9:07:00 AM
From: Jerry Olson	Read Replies (1) \| Respond to of 99985

Morning Mike.. i figured i'd drop in here, to give you my thoughts..instead of over there, like kill 2 boids wit 1 rock<VBG>..we in Philly tawk funny...,g> anyway..while things LOOK bad...i had the best 4 weeks of trading since my homerun in CMGI Nov 98 to Jan 99... it was nothing less than spectacular...my profits were awesome..and Mike i only traded the LONG side... i posted almost 60-70% of all my trades real time on the threads i frequent...and while everyone was wringing their hands frought with fear, i calmly did my thing... it has taken me years to adjust to the markets MO..modis operendi...i have lived the crashes(suppossed crashes) and survived everyone..albeit a lot wiser than before... while i am very bullish by nature, i am trying to stay neutral in my thinking...in fact i could care less about all the rehtoric being espoused by all the pundits out there..oh yeah everyone has opinions, but who really cares... i learned to completely tune out the noise...period..i trade my P&F charts, and go merrily along my own way...and while all the P&F indicators are bearish and heading lower right now, we are very close to a bottom on the charts... if we think a moment about where the state of the economy is, i would guess it's pretty amazing...what with GDP at 6.9% and inflation at the lowest levels in 17 years.. Mike even AG has got to start thinking his model is wrong...and i see he's trying to cool the markets to a more sustainable level...but that too will change...my thinking is simply this..why crush a perfectly well oiled machine working on all cylinders, when they can easily stop this train rather quickly....anytime they wish... why not just stand aside for 3-6 months and let the markets do what they will, and the economy too...he could be wrong here... anyway..as you know i am not a futures trader, and i think the markets are discounting the expected rate hike in Mar...as well, when the GDP came out Fri..the BOND market did ZERO...i liked that... and as i said to you before about the DOW and such...all we are witnessing is a rotation out of old line stodgy slow growth companies into high tech 30-40-50% growth Tech companies...the money isn't leaving the markets it's just moving to other areas...there are NO sellers per see... not one person in my sphere of influence has sold anything except crap stocks and took their money and bought newer tech... No Mike i'm not playing the diabolical game at all...i don't care where the market goes, or what people are thinking about this or that...it's totally meaningless to a trader like me...all i know is this.. My trading acct has flourished like never before...my reads of these charts are better than ever...and i could care less about market noise or opinions...i have successfully tuned all that crap out... where do we go from here???? don't know?? i can't predict the future, i can only follow my indicators, and P&F charts..in fact i'm not good enough to predict even 1 days potential move...and why should I???, in the scheme of things it doesn't effect me one way or the other.. i might sound redundent...but thats what i want to sound like...trade what you see and not what you read or hear... Mike as a spoo trader you have to be a bit more atuned to daily swings in the charts..i don't...and i wont either.. those daily swings/whipsaws and such only make a trader make mistakes, this is good action for the daytrading SP's folks like yourself...and while i always watch the futures during the day...i do that to help me trade what i want when i want it... so Mike....i am a perennial bull...trying to hold in this excitement i feel right now...and fighting to stay calm cool and collected..it's very very tough to do...but i am winning this battle... My regards to you...OJ