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Strategies & Market Trends : Technical Analysis - Beginners -- Ignore unavailable to you. Want to Upgrade?

To: Robert Graham who wrote (7147)	11/30/1997 7:52:00 PM
From: Chris	Read Replies (1) \| Respond to of 12039

Bob g. <That is because it was in what I term "spitting distance"> i love your posts. cracking me up... heheheheheheh keep up the good work and thxs for the post on mkt direction.. man, you're great! Chris

To: Robert Graham who wrote (7147)	11/30/1997 10:05:00 PM
From: Richard Estes	Respond to of 12039

Floor traders? They are carrying out the orders of their house and customers, not private trading. Futures trading better fits your examples. The market maker knows where stops are located. I picture many times before a good move up, the MM will "take out" stops to gain inventory for trip up. But everything is a guess with 1000s of answers. An indivdual might sell at any level because he wants down payment for a car. a fund might do it to wrap up a 150% move they started, they may rid themselves of 100,000 shares in 2000 share increments over 2 weeks. We just don't know, we guess. Stop losses under support. I think if a stock turns against you by 10%, get out. You might change this to 15% for lower priced stocks.

To: Robert Graham who wrote (7147)	12/1/1997 3:13:00 PM
From: Chris	Read Replies (1) \| Respond to of 12039

Bob G. re: < So perhaps covering some of what goes on behind the price changes, and what happens on the floor of the exchange is just "noise" that can get in the way of the learning process of a person new to TA. However, I am just attempting to fill in some of the detail of this picture for interest, and perhaps this added information sometime in the future will help an aspiring technician's perspective of the markets, in terms of the factors that influence stock prices in the market and how they show up on the charts. I think the more that is understood about price action, and some of the "reasons" behind it, the more it will become familliar and second nature to the technician.> I totally agree with the above statements. for me. I would like to know the "Whys" to understand what is going on behind the market and see the "big picture" correlation. Helps me give me a logical sense of what is going on.. But i think that one should make trading decisions BASED on the whys.. that itself is dangerous. that is what the charts are for. trading based on WHYS' will lead to --> "I believe in the company" mentality. big no no.. one has to open their eyes to the industry, sector rotation, hot sectors.. you can't simply just look at your own stocks and sit in a closed room.. sectors tend to move together. mkt tend to move together (like today).. remember. TRADE WITH THE TREND?? well. TRADE with the SECTOR.. TRADE WITH THE MKT.. great stuff bob..