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

To: HairBall who wrote (63513)	12/1/2000 1:45:04 PM
From: Michael Watkins	Read Replies (1) \| Respond to of 99985

LG, Test of top on the 5 minute NQ at this writing currently failed. Perhaps that's it for the bounce. Away from the trading machine today but I would be short with tight stops above the high of today at this point. Given how low its been, I would only rank this short as a low probability however, and with potential news shock always lurking these days, darn supreme courts and politicians can't time their news briefs until AFTER 4:15 ET can't they! - well, chances are it will grind up some more. ps, I agree on discretionary stops too. WHen the market is moving in high speed I tighten them down even more, perhaps counter intuitive for some. ANd intraday I always exit on a big bar expansion. Can always get in, but typically those are good exit points. less time in cyberspace, sounds good to me! (I'm practicing that myself, not suggesting you take off, of course!)

To: HairBall who wrote (63513)	12/1/2000 5:43:03 PM
From: ibg	Read Replies (1) \| Respond to of 99985

after reading your post, i felt i should thank you publicly for including me on your email list. your charts are some of the best i have ever seen. your calls are often accurate, timely and combined with escape signs if you are wrong. i hope you continue to update your web site and post on si. you and the regular posters on this thread rarely receive praise and you rarely pat your selves on the back, what a group. other threads work at covering the same subject, but they all fall short of doing the job this one does. they are cluttered with off topic posts, self-styled experts that are obviously still green and calls that are often ambiguous at best. the larger group on this thread seems to be constantly going through a metamorphosis as regular posters come and go while the thread is held together by a cluster of long time regulars at the core. even with this metamorphosis this thread seems to always be a rare combination of individuals each contributing their unique skills which when blended together resembles a fine tuned orchestra. thanks again to all of your efforts.