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

To: Ally who wrote (6053)	3/15/2001 4:12:29 AM
From: Michael Watkins	Respond to of 8925

Hi Ally, It is a difficult time for many investors and would-be traders to be sure, but I encourage you to keep up the work on the 'squiggly science'. The techniques we have been discussing around here are useful even for the long term investor - perhaps simply changing the view to weekly charts instead to filters out most of the noise. For the long term trend follower, the most important thing to learn will be how to detect the change in trend. 1-2-3 trend reversals that you've been pursuing on your thread is the way to do it IMO. That brings me to a conclusion I've drawn based on my long trading experience (5 months)..... it does not pay to buy on dips when the market is not on a strong uptrend... You said it! So the key is, for the market we are trading, is the market or industry sector trending up or down, and plan accordingly. Not that much going up in clear uptrends these days. I have been trading energy stocks on the long side but am currently out of those positions. Companies with significant natural gas business have been worth following. Traded Talisman (TLM-TC) recently, waiting to see what it does on its pull back now. Take care, Michael