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Strategies & Market Trends : Intraday Updates, Analysis & Strategies for Daytraders -- Ignore unavailable to you. Want to Upgrade?

To: Dave Gore who wrote (427)	3/16/2001 11:53:47 AM
From: Dave Gore	Read Replies (1) \| Respond to of 589

Tricky Market? You bet....look at VRTS....it's all in the timing. They knew it deserved to be higher and just wanted to scare people out of it. Daily range = 51-7/8 to 57-1/2 (as of now). Even these rallies in the doldrums on relatively light volume are manipulation folks. They exaggerate the moves on both the up and down side. They know most traders are very nervous and can be panicked out and then panicked back in, all at the worst times for them and the best for the big players. The little guy is selling on fear just as the big guys are getting ready to buy. So what do you do? Sit this out, start to average in, or gut it out and buy your fave stocks when you think they are near a bottom. With recent lows in CHKP at 57-1/2, was 58-59 a safe buy point when it kept bouncing off those levels? Well, sort of, certainly better than buying it a couple minutes ago at 61 with the NQ's bouncing back down off the 200 period ema. What about buying VRTS a few minutes ago at 57+. Good idea? Not for me. Was it a good buy at 52 earlier? Well, if you can stand the possibility that it would crash down through the LOD then probably. But it is nerve-racking. The main thing is to play the odds, imo, and decide whether gutting it out is your idea of a good time. <g> All bets are off because their are no patterns. Ideally you want more consistent trending. You want to be able to avoid the doldrums because nothing much is supposed to happen. You want to be able to say that this stock is definitely cheap or expensive here. You want stocks to base for longer periods of time so the moves up or down are more certain. You want more certainty. The only people making money are a few pro traders and those charging others for advice like money managers. They aren't dumb.