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Strategies & Market Trends : Candlestick Charting--The unknown indicator -- Ignore unavailable to you. Want to Upgrade?

To: Esteban who wrote (1011)	12/19/1997 1:30:00 AM
From: MonsieurGonzo	Read Replies (1) \| Respond to of 1589

Esteban; RE:" Signals..." I was looking at a rather fearsome formation on the index charts, and thinking - wow! - it looks just like it did before the crash last Halloween. Then I got down into the components that make up the indices. The DOW is a strong index, man. Lots of them have fallen to near-support levels. DRG.X has had some profit-taking - wish I had bought drugz this year than Techstockz {sigh} - I'd be TAKING PROFITS RIGHT NOW, TOO !!! The CEX.X is kinda shaky. PG has an interesting Doji on its weekly chart. I could see all of these DOW components losing a few points, but I don't see them being the cause of a plummet. INTC and MSFT - they are both at critical supports now: 68-70 and 129-131 respectively - and if they crack those levels, we'll have us a Tech Crash II. I could see Donald's DOUBLE DIP scenario now, wheras before I could not imagine any market support around here. I've been working with basic trend and support levels using simple line charts of closing prices. This old-time technique is working very well for me. Anyway - aside from the NAZ, the essential basis of the DOW is a marvelous thing to study in detail. No wonder it is so difficult for most MM's to beat the basic index ;-) -Steve

To: Esteban who wrote (1011)	12/19/1997 6:36:00 PM
From: MonsieurGonzo	Read Replies (1) \| Respond to of 1589

Se¤orGonzo; RE:" Long-Legged Doji - the Rickshaw Man " Been looking him up, Esteban. Take a look at PG's weekly chart, for example. They're all over the place. MSFT,D for example. ...the Market has lost its sense of direction says Nison about the Rickshaw Man. Of course, the big one is on SPY,D on my chart (your SPY is always a little different than mine). Big time Hammers on the NDX.X and OEX.X indices. Odds are, we bounce UP here, don't you think ? Downside (we're at yet another neckline on my charts) is potentially there - I'm seeing some patterns in certain sectors that still do not look good; will have to do a more complete scan this week-end. But the NAZ looks better, for sure, than it has in a while. Strength appeared to be in the large cap stocks - still not broad-based yet. But, lotsa hammers made today. Big old Doji on INTC,W Long-Legged Rickshaw Man - the current sentiment. -Steve

To: Esteban who wrote (1011)	12/19/1997 10:56:00 PM
From: ftth	Read Replies (1) \| Respond to of 1589

Esteban, a.k.a. "spiderman": So tell me about your SPY experiences: What in particular attracted you to them?; how long have you been trading them?; what trading time frames have you experimented with and what sort of ballpark results have you been getting comapred to a passive index strategy?; Are you trading these specifically because of the market's current mood, and will switch to individual stocks once a clear uptrend resumes?? Is it correct there is no uptick rule for shorts? Is there a more leveraged approach (puts/calls)? These look kind of interesting for certain situations--any recommended reading on different strategies (besides the 65 page prospectus (pdf file) on the AMEX website, which probably doesn't speak to strategies)? How 'bout MDY?? I understand there will be more unit trust "index pools" introduced next year. I've been kind of neglecting these as a tool, so I figured I'd learn more about them over the holidays. Any info would be greatly appreciated. thanks, dh