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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 (23510)	5/24/2000 11:55:00 PM
From: Attackjock	Respond to of 42787

The NAZ bottom is in. The US joins Euroland in welcoming china to trade freely. I watched CHINA (the stk) advance 12% in 5 min. of after hrs trading. Heavy vol tomorrow with the bulls running. I'm new here, so don't take me seriously. This is for entertainment and most assuredly is not investment advice. Oil and NG are king.

To: dennis michael patterson who wrote (23510)	5/25/2000 4:23:00 AM
From: Robert Graham	Read Replies (1) \| Respond to of 42787

I am curious. What time frame are you operating in? Looking at the daily SPX chart, the initial bottom made on 2/28 after an extended consolidation lasted more than one week covering a total range of about 225 points. Then we had a sell off. Next move up from a "bottom" made on 4/17 lasted several days with a range of still about 140 points which was playable. For a day trader, particularly with leverage, this is eternity with great profit potential. Heck, for a person that trades in and out during they day, perhaps even holding for several days, can still makes this type of price action I see on the charts a playable bottom. Who cares what happens afterwards? For that matter, if you just play what you see, up or down, there has been money to be made. A look on the NASDAQ during these periods of time is a bit different. A continuation bottom was put in at the end of January for a good initial move of about 600 points to end up after another smaller continuation bottom to end up covering a total range of about 1200 points. Then there was a steep sell off which has ended up in congestion from about 4/17. For those who expected the usual bounce to the heavens were disappointed this time. Still as a day trader, or a position trader responsive to very short term price swings, there have been movements of about 500 points or more, more than enough to play the upside for profits. But ever since that steep sell off, at least for the longer term trend position player, it has been apparent NASDAQ has not been the place to be. Now for the position traders who place trades for a couple of weeks at a time, entering and exiting on EOD data, then I can see where these examples of a trend except for the first one mentioned for NASDAQ may not have been playable bottom. Considering that many of us here including yourself are all playing the very short term time frames including intraday, this should not of been a problem. Trends come and go in this market. I imagine that is why many of us are playing the shorter time frames. And to require more in order to make a profit in this market to me is just out of place and not workable. IMO one has to think in the shorter term time frame to make this work. But I see many as short term traders thinking in terms of the longer term position trader. In the market of the past that only knew the direction "up", this type of approach can work very well. But this has not been the case as of late. I do understand that you have been very successful. But it appears the market has changed on you. No more bounces that end up in staggering rallies at least for the current market. Now how come I get the idea that you are thinking as one of these type of position traders mentioned above, but trading like a day trader? Who are you in the market, Dennis Michael Patterson? :-) Bob Graham PS: Perhaps the instrument I trade, the SPOO, has me thinking in terms of short term swings. For this spends allot of its time intraday trading in congestion. But what else can one realistically expect from the market?