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

To: Robert Graham who wrote (7163)	12/1/1997 5:02:00 PM
From: Chris	Read Replies (1) \| Respond to of 12039

Bob g. just wondering how did you get all these experienes on tape reading and know what happens on the floor and the "behind-the scenes" work.. very amazing stuff Bob.. I thought you work in consulting at your firm... did you have other opportunities before your firm?? see ya! Chris

To: Robert Graham who wrote (7163)	12/1/1997 5:24:00 PM
From: Richard Estes	Read Replies (1) \| Respond to of 12039

As the market remains in the biggest bull we will see. More people are drawn to jump on board. College students and etc move into the high risk arena. Why would I suggest they stay away from "noise", look around SI, We find many calling markets, hawking stocks, etc. If that is not enough, they now begin to pick up papers, magazines, books seeing gloom or boom on any stock, sector, market. How does that affect their decisions? It would have to bring a great deal of confusion to the table. So and So said buy this, but him and her said short it. Which noise will affect their decisions? I support the person conducting a study of the market machanism, the sector status, measures of market health and types of trades or investments. All directed towards developing a plan as to how he or she will act in the market. The plan should include money management, stock selection, entry/exit criteria. Once they have the plan, they must work it. Here's hoping they did their homework and the plan has a rational basis that has been back tested. A mechanical system? I believe it is the best means for the average person to stay ahead in this game. I have always recommended this to all entering the game, a well choosen system can hold them back from ruin. It provides them exit and entry points which will let profits ride and cuts losses. You don't have to listen to "noise" to decide your actions. you just listen to your plan. It is the one you trust. It may be of little use to others because of their mindset or ability. You must make it your own. I was speaking, if you can call it that, to a group; when someone asked a question on a method I had just presented. "Is that your belief or is that just for public consumption?" I told him, "I try to weight everything I say, so it does the least harm. I am always concerned what someone might do on my suggestions." I try to teach others to fish, not give them fish. I might present systems as examples but only they can decide.

To: Robert Graham who wrote (7163)	12/2/1997 6:56:00 AM
From: LWolf	Read Replies (1) \| Respond to of 12039

Bob & all, The fool had an item recently on the a couple stocks where influence on one, was evidently by the mob, and the other was nearer to the trading floors, with MMs apparently making a little extra on good news. Inefficiencies are still around, and in some cases perhaps improper. I think the second stock referred to in the article is close to the example Bob had regarding floor traders making a profit on exagerated price (which happens more often in the futures market, but the regular equity market is not immune). fool.yahoo.com L. Wolf BTW, this is my primary learning thread. Information coming from here is the most helpful. It's amazing how each thread has a different personality and attitudes. (SI is sorta like belonging to a family with lots of relatives and all their idiosyncracies).