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Pastimes : Trading the markets..... -- Ignore unavailable to you. Want to Upgrade?

To: Moominoid who wrote (2676)	1/15/2001 10:03:38 PM
From: robert b furman	Read Replies (1) \| Respond to of 4583

Hi Dave, Hey wait a minute - I don't work for CNBC !!!! < VBG >. I'm not sure what you call a flag - but here's my take(from BOB'S World). Flags I have learned about from Theresa Lo's sight "Intelligent speculator" where OJ is doing his usual exciting and humorously light handling of an otherwise stressful situation regarding daytrading. In all full disclosure I am the world's worst daytrader and if I've ever made dumb trades it was because I was thinking short term and not mentally prepared to walk the walk as I talked the talk to my broker. However having failed at the trading side of things - I think a bear flag is a flag that goes up to a resistance level falls back in price on declining volume vs a bullish flag goes up to a resistance level and falls back in price on increasing volume. The major difference is as it falls in price - support (buying shores up the price vs a bear flag where a lack of buyers fails to prop up the price )which ultimately falls under the weight of the high price (sellers exceeding buyers). I could be all wet on this as I'm not a trained student.I do however in my own little way equate all price actions as a byproduct of supply and demand. I've spent my entire life assessing valuation based on supply and demand. When I go to auctions to buy cars - I see what is strong and what is weak - When I see stocks go up I believe it is a supply vs demand issue. I think flags are the same - some are strong(bullish)flags because there is accumulation amongst some large and small buyers and there are weak flags(bearish)because there is distribution amongst some large and small sellers. Keep in mind that institution's like to mask their purchases by not disclosing the "size " of their intended accumulation.That's why you don't see " BUY 45,000 shares @ less than 16 - instead you see buy 400 @ 15 13/16 This bid will stay there and all of a sudden you see 45,000 shares at 15 7/8 clip thru - The MM scalped a 1/16 the institution got their price and saved an 1/8. All is well at Wall Street and if the world knew there was an aussie who measured old ice from a glacier that wanted to buy 45,000 shares at 16 you wouldn't be able to touch it at 18 !!!!< VBG > So you see, if you want to get over on Wall Street you'd better do it at the expense of Joe 6 pack - not the money boys on the street. You catch my drift - cause your money is funny and their's is - well let's just say better informed. JMHO Bob