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

To: Lee Lichterman III who wrote (23259)	5/22/2000 4:55:00 PM
From: Challo Jeregy	Respond to of 42787

hi Lee. I don't think it's your site, I think my security s/w is very secure!! <VBG> I can't pull up Datek streamer either, unless I turn the s/w off. Got to figure this one out, but don't have time now. Will work on it during the week.

To: Lee Lichterman III who wrote (23259)	5/22/2000 5:13:00 PM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 42787

Just saw this on another thread FWIW... >>>To: John Harton who wrote (8397) From: John Harton Saturday, May 20, 2000 12:34 PM ET Respond to Post # 8398 of 8415 The Daily News I suspect like most on the thread, I find the greatest block of time to hit the charts on the weekends. It occurred to me that perhaps that I was getting skewed readings because the last candle(on a daily chart for example) would always be a Friday.(And don't many traders park in cash over weekends). So.... ran a little test. Using historical SPY closings over the 6 months from Nov 20 1999 to May 20 2000 I logged the up vs down days(measured from the previous days close). The results: Mondays- 9 up, 14 down, 2 holidays, 1 deadheat(Nov 19 close @142.4688, Nov 22 close @142.4688 wow) Tuesdays- 10 up, 16 down Wednesdays-13 up, 13 down Thursdays-15 up, 10 down, 1 holiday Fridays-13 up, 10 down, 3 holidays I would have thought more down Fridays? So go long at close Tuesday, then sell at close Thursday? Comments? John PS Why exactly am I expecting an up Monday?<ggg> <<<<<<< Good Luck, Lee

To: Lee Lichterman III who wrote (23259)	5/22/2000 5:41:00 PM
From: dennis michael patterson	Read Replies (2) \| Respond to of 42787

Man, you get positively anatomical with ths candle stuff! Just let me know when to sell. I am dumb dumb. I just need a map. I have 500 SUNW I want to blow out!

To: Lee Lichterman III who wrote (23259)	5/22/2000 9:49:00 PM
From: Robert Graham	Read Replies (2) \| Respond to of 42787

I had an idea this pop may be coming based what I was seeing later in the day. it looks like an interesting setup that was developing on the SPOO. A small triangle on the 15-min chart. This usually means that price will whipsaw and frequently reverse from its initial direction out of the triangle. In the bigger picture, this did fit. So it looks like we had a type of reversal day off of a lower trend line that shows up on the daily SPOO chart. So this usually means the market will rally from here for a period of time. Still, the selling did not surprise me. This pattern of selling has been intact for some time now with no apparent change. Until this pattern changes, I will expect selling to continue. We have been in a large congestion trading that has taken the form of a larger triangle. Since we saw a type of hammer today, tomorrow will be interesting. Even though this is not a reversal with price closing above the open, this is still important, particularly where it has occured with respect to the lower trend line of this triangle. This triangle is getting very close to resolving one way or another. But since this is a larger triangle, there is much room for whipsaws and detours to fake the most people out before a direction is chosen. And the market appears to have a picnic with triangle formations where whipsawing and fakeouts happen the most frequently and the most dramatically. As far as predicting this pop in advance, I do not think this is possible. First off, I do not think it is possible to predict, only to anticipate and be prepared. Also I find the most accuracy to be had in the shorter time frames. Attempting to predict off of daily charts what the market will do from the perspective of the day trader IMO does not work. But many attempt to do this. This is just my opinion. :-) Bob Graham PS: My comments come from my trading of the SPOO. Even though this is not the entire market and only includes some of the techs, I find the SPOO provides allot of information relevant to the market, including the NASDAQ.