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 : Successful Short-Term Trading Strategies for Beginners -- Ignore unavailable to you. Want to Upgrade?

To: tide who wrote (22)	8/11/1998 12:09:00 PM
From: DoggieDude	Read Replies (1) \| Respond to of 78

Maybe if you were long yesterday but the shorts that picked up positions yesterday are feeling good. (no I don't do the short thing) Next topic: Anyone planning on a quick play of GCTY today?? If they get it open anyway.

To: tide who wrote (22)	8/11/1998 12:16:00 PM
From: William W. Dwyer, Jr.	Read Replies (2) \| Respond to of 78

Tide, I think most of us probably lurk and print. For every post I make, I probably read a hundred others, maybe more. And I always print the good ones. The most valuable notebook I've ever made. I agree with you that the market is crazy these days. Short term traders either need to be exceptionally quick and lucky, or sit it out and study and read a lot, which I'm doing. Long term investors are okay, of course, but I feel more comfortable in "all cash" until things settle a bit. The SPX shows large caps have done clearly better this year than the small caps (Russell 2000). The large caps are the leaders and the more likely winners, and I don't see that trend changing for a while. What's wrong with this market now, though, is that it doesn't seem to be driven much by fundamentals, more on hype and hysteria. Stocks with no past or foreseeable profits are booming, and good stocks are tumbling. Who wants to play with these? A good time to either be on the side-lines or doing serious and very short-term daytrading. By the way, one of the best books I've seen this year on daytrading is "The Underground Level 2 Daytraders Handbook" by Jea Yu, PredatorCorp. I'm re-reading it today as the DOW goes absolutely crazy, thinking of one more trip to the beach before summer ends. And taking no stock trading notebooks. Bill

To: tide who wrote (22)	8/12/1998 8:52:00 AM
From: TraderAlan	Respond to of 78

tide, Yesterday would have been tough on momentum traders but swing traders and scalpers saw a "business as usual" type of day. Sharp declines rarely occur suddenly and without warning intraday. Globex was flagging yesterday's opening for hours, as the Asian markets dropped. And a daytrader would not have been holding any positions on open, when ALL of the decline occurred (as it usually does). By 10:30a, the markets entered a fairly typical (but choppy) buy-sell flow. Smart day traders are more risk adverse than position traders. Alan