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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (80738)	9/6/2003 10:08:33 PM
From: bcrafty	Read Replies (1) \| Respond to of 209892

Lots of good points, mish On the R/R point. I wasn't implying that anyone should go hugely long here; my point was that (all things being equal) until there's a clear trend change then the long play is more favored. In general, I don't favor going short (except for wiggle intraday trades or 2-3 day holds on particular issues) until we have clearer evidence of a trend change. If one feels compelled to do so then he should choose an issue that has clearly already turned down, in whatever trading timeframe he chooses. For someone that is contemplating getting in now, I agree that "one has to be "100% on their toes" and, actually, I think people should be that way all the time, unless maybe if you're 300% ahead on a slow moving issue, or something like that. But for one that is thinking about getting in now, rather than looking at the market in general and the well-known names, IMO he'd be best advised to seek out lesser smaller and mid cap niche market players with strong trends. Or if one does want to stay with big names he would have to look for news that might be driving particular names higher. And, of course, you're correct in saying that anyone should stick to what works best to them. Anything in my prior post that one feels could be interpreted otherwise was more directed at those that are not looking at both sides of the market and taking advantage of IT trend changes, as an implied addendum to Allan's well-heeded comment "being stubborn can get you killed."

To: mishedlo who wrote (80738)	9/6/2003 10:49:52 PM
From: skinowski	Read Replies (2) \| Respond to of 209892

Mish, I looked up the chart for Dec Corn on Qcharts (C03Z). Corn had a pretty wild drop into that July low. Not sure I would like to trade this one - with the leverage involved - even if my IB would have a suitable product. It would have been a pretty tough call. I have a hard time understanding how a tradable could possibly be predictable based on seasonality. If that were the case, why wouldn't everyone "predictably" trade it - and get rich? About Corn and Waves: EW tends to be of more value in emotional markets. I would imagine that during moves like the one Corn had this summer EW may have been of help. One more thing - I noticed that often I do get better results with tradables about which I have no particular thoughts and - more importantly - no emotions. That was an interesting point - and - an interesting post.