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Strategies & Market Trends : NetCurrents NTCS -- Ignore unavailable to you. Want to Upgrade?

To: Teresa Lo who wrote (179)	10/3/2000 12:39:27 PM
From: Patrick Slevin	Read Replies (1) \| Respond to of 8925

<some sort of hearing/investigation that cleared short selling in the end?> Most likely the failure of the original committee, the one set up by Hoover under the auspices of the Senate Banking and Currency Committee, to make headway as even the press ridiculed it's unsuccessful pursuit of evidence of a conspiracy to drive prices lower. Hoover claimed that "real values" were being destroyed by bear raids when in fact the value was not there in the first place. However, a subcommittee of this led to Glass-Steagall, and during the encroaching Depression it was easy to believe in canards. Whoops, almost 68.....time to decide. See you later, -------------------------------------------------- Yes, the compression that we discussed (as you pointed out in a recent chart link) seems to be ready for resolution. I like it higher after AG but only because I never Short when AG is ready to speak. 1480 is close to mine, I sort of like the 1476, 77ish area. Nice channel chart, I use them occasionally for targets during intraday trading. Nope. Except for occasionally stopping into your site I have not participated in a chat room at all. I think the reason is that I'm too busy.

To: Teresa Lo who wrote (179)	10/3/2000 12:56:27 PM
From: davealex	Read Replies (1) \| Respond to of 8925

Have you ever participated in any of these internet chat rooms? Interested to hear any comments/experiences. I hang in a swing trading chat room every day (swingtrader.net). We use TA exclusively. I only trade intraday microtrends and go flat every close. Some people swing overnite. I find it extremely valuable (if not just for my sanity) to have others to talk to. It's not your normal stock chat room; the people running it teach people to trade rather than just call entries and exits. There are about 150 people in there every day trading, learning TA and getting a handle on market psychology. And that brings up a good point about TA: the stock market is not made up of stocks, it is made up of people (whether an institution, a hedgie, a B/D or a day trader -- a human makes the buy/sell decision). And people, having been around quite some time, have a reasonably defined basic set of psychological traits. Those traits manifest themselves quite obviously in candlesticks and candlestick patterns within every time frame. It is quite truly amazing to me -- now that I have learned to read the patterns -- to see the hope, fear, greed and pain played out in real time on my little candlestick charts. Make no mistake: I am not done learning. I don't think any trader is. My education is now focused on multiple timeframe support and resistance analysis (ie. watching the stars line up across the weekly, daily, 30 min, 15 min, 5 min and 2 min. -- "OK, we got three dojis, a shooting star, two haramis and the Naz is gonna lose support here: Get Ready!") You don't run across a ton of them. It really does require a lot of work to find the high-probability low-risk trades. But what in life that is worthwhile is easy? Dave