Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: ViperChick Secret Agent 006.9 who wrote (35995)	3/5/1998 1:42:00 AM
From: Patrick Slevin	Read Replies (2) \| Respond to of 58727

Well if it works for him. Personally, unlike Donald Sew, I cannot justify following several indicators. My experience is that 3 or 4 will say one thing and 2 or 3 will say something else, and I end up hamstrung and indecisive. I prefer to use 4 indicators, the PREM and TIKI along with the TICK and TRIN for correlation as secondary indicators. I am a daytrader, after all. I really don't give a rat's nose hair what the market does two days from now. If my read is incorrect, I reverse. If I'm wrong again, I am out. In my experience, there are 3 kinds of people who trade these markets. People like TT who take a position, put in a stop, and raise the stop as the market moves in their favor. The second type of trader is in and out perhaps 6 to 12 times a day. The third group includes me. 1, 2, MAYBE once a month 3, trades in a day. I see absolutely nothing wrong with someone in a buy and hold scenario, if that's what they want to do. I have a problem with owning S&P futures that gap down in the AM.....I feel I might as well own stocks if I were going to do that. I see nothing wrong with the theory that someone should be in and out 6 to 12 times a day. I just don't think the manufacturers of Pepto-Bismol can keep me in supply. Finally, until I see someone from one of those other two groups glomming my table at the "21" club, my intention is to keep it simple. I hope whatever James has works for him but most spoo traders are not in the market more than an hour a day. So developing these forecasting tools is nice but much too much trouble for those of us that are just trying to get a quick hit and run, as it were.