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Strategies & Market Trends : KEEP IT SIMPLE TRADING -- Ignore unavailable to you. Want to Upgrade?

To: Michael Watkins who wrote (186)	2/20/2004 10:51:01 AM
From: Michael Watkins	Read Replies (2) \| Respond to of 321

Hey, speaking of an ETF not comparing well to the underlying real world, look at the daily bar of TTH. Perhaps one task might be to locate the ETF's that best represent an underlying market - best meaning both correlation as well as trading volume. These ugly spiky bars such as TTH has today happen too frequently on thinly traded ETFs, in part limiting their utility. (And lobby for the complete elimination of specialists and market makers and ETNs... they are part of the problem as well.)

To: Michael Watkins who wrote (186)	2/20/2004 11:40:06 AM
From: mistermj	Read Replies (1) \| Respond to of 321

Michael, I have no problem with whatever you want to say in this forum, and your constructive criticism is fine with me. This thread will live on, or die a very fast death, based on the usefulness of my calls to others....period. Having said that, let me respond to a few things so we know where each other is coming from...so to speak. >>One reason why I decided to speak out is that I have much experience in this area, and I know that the vast majority of readers out there simply want to be told what to do. We can say "do your own DD" but those words bounce meaninglessly off of many.<< I have a different mind set than you on that.I say B.S. I am not responsible for other peoples actions...especially if I have forewarned them to do their own DD.If I say do your own DD...I mean it.Its very simple. The fact that many will not, is "their" issue, not mine.I'm pretty conservative in that regard...its about individual responsibility. >> there is no trend on the daily chart - its hovering in a congestion zone<< I see a very definite and tradable trend,IMO.Its just not what "YOU" look for or consider a trend.In fact, by you saying you don't see it, only strengthens my point that I have some very tradable indicators here.(No malice intended...we just trade differently, thats all). ;-) >>If price does move down tomorrow, below today's low, then sellers will have clearly taken control. At the moment, its just a hope and a prayer that they will take control... and I'm not into hoping!<< I feel you are intimating that I am guessing,"on a hope and a prayer", by making a call when I did.I'm not sure how to take it differently by your statement.No big deal...I may not be right...but there is a method to my madness.My calls are made on very specific conditions.They may be made on wrong conditions...but its not "hope and a prayer" type of decisions, IMO. Now don't take this post the wrong way either.I'm still very glad you are hanging out here once in a while. ;-)