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

To: eichler who wrote (77931)	6/4/2001 4:52:14 PM
From: t2	Read Replies (1) \| Respond to of 99985

Eichler, For a daytrader, that is the best way to approach the market. TA has to be main factor in daytrading decisions. I just have doubts on its effectiveness over a little longer time horizon---ie. more than a few days. Sorry, I did not mean to offend in any way. I was just noting the short "commercials" that you pointed out; have read somewhere that they lead the market into the direction they are leaning towards. It is the contrarian in me that says the past pattern cannot continue after the way mutual funds have adjusted their holding to be light on tech stocks. (i am repetitive on this point about mutual funds but it is the key factor in my thinking) What you noted is also my argument for quick move higher IF they realize the market is not going the way it is supposed to, from their perspective...not following their lead. That could translate into a lot of buying hitting my short term Nasdaq targets. Of course, I could be very wrong. It won't be the first time.<g>