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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: dennis michael patterson who wrote (22799)	4/15/2000 4:23:00 PM
From: Robert Graham	Read Replies (2) \| Respond to of 42787

Why be concerned about a bottom? I am making money on the way down, just as I make it on the way up. The only markets I do not like are the congested "go nowhere" markets that have setups in my time frame that do not follow through once triggered and tend to whipsaw enough to make the setups not worth taking, and the choppy markets where price bounces around with significant slippage. My two best trades on Friday was right at the open and when an intraday bottom was being put in which price challenged and then continued selling off. There was the smell of fear in the air right from the beginning of the day. Great day to make money except during one part of the day where individual ticks were at times multiple points apart on the SPOOs. This is where I incurred abnormal slippage of two or more points on my trades. My timing at to be very good and with the trend to make out on these trades. But it did blow the risk to reward on my trades, and with other problems like slow response from my broker's computer, I waited it out until the market started to trade more "normally" with regards to slippage. Bob Graham

To: dennis michael patterson who wrote (22799)	4/15/2000 10:33:00 PM
From: Chris	Read Replies (1) \| Respond to of 42787

i dont think we need to worry about what makes a bottom. inversly, if you talk about what makes a top -- it would be different everytime. This time it was Abbey Joseph Cohen's comments that shook the market. Next time, it will be different. The big picture for me is to remain in cash until I get a buy signal. Keep it simple.. Right now, we should be reviewing past trades and getting a buy list ready. In order to achieve that 60%/yr consistent return, I want to make 20%-30% returns on each quarter (remember, i don't really play the high-fliers. I usually play SP500 stocks)

To: dennis michael patterson who wrote (22799)	4/16/2000 3:29:00 AM
From: Andy H	Read Replies (1) \| Respond to of 42787

Dennis, Things I'll be looking for either intraday or end of day: Record volume (or record run rate intraday) CBOE combined put call ratio of 1.2+, equity only of .90 VIX over 40 Trin of 2.0+ NAZ of 3120 to 3175 maximum; preferably 3000+/- 50 pts These are tried and true bottom reading for past bottoms in Dec 94, July 96, October 97 and 98. I wouldn't be surprised in this market of excesses, that all time high readings could be in store one of these days soon. If these conditions exist after the first hour of trading, I may begin committing 1/3 to 1/2 of capital to a few of my favs (BBRC,ATML,LSI, LSCC and CNXT, in that order; CY if I didn't have enough already) at the first sign that the downside velocity has ceased for the moment. Then wait until the end of day to evaluate if any additional purchases ( or sales) should be made. This margin selling bothers me in that it is somewhat artificial, just as it was on the buyside on the way up, and unmeasurable in its scope and duration. I see anecdotal evidence on Yahoo boards of people getting margin called, then buying back later to get in the same boat. If that practice is widespread this thing could go a ways more I suppose. Gotta believe somebody has the big money to put to work at NAZ 3000. Of course, something in the action may cause me to chicken out from buying despite the above factors occurring <ggg>. My non scientific instincts tell me that the round number of NAZ 3000 should hold for a tradeable rally. With all of the overhead resistance in place now, trading must be fast and furious if one is to profit from the long side even if a bottom is hit soon. Should be lots of back and forth and testing of lows. Without the Fed on our side, no V bottom like 1998.