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.

Non-Tech : MB TRADING -- Ignore unavailable to you. Want to Upgrade?

To: TraderAlan who wrote (1820)	11/7/1998 6:56:00 PM
From: Rick Faurot	Respond to of 7382

Alan, Thanks for the TA lesson. Some of it is familiar to me, especially the first hour breakout, which I think most traders are aware of. I'd have to learn a lot more about charts to set them up for fibonacci, bollinger, etc. My theory, though, having used stochastics for awhile, is that I can see the action faster on my screen and play it faster than anyone who is watching charts. I have a minder (window) which shows the DJIA, Nas, S&P 500, S&P Futures, Tick and Trin. I also have secondary pages which show these in chart form with stochastic overlays. But I only go to my secondary pages if I can't see the action on my primary screen. Watching my indices window gives me a really good picture of the markets' moves and market sentiment. I also keep CNBC on to keep up with breaking news. And, I have a bigger minder with thirty stocks in in with bid/ask last so that I can visually see the action. I am sure as I go along I will look more at the charts you mention. I'll try anything that works. Rick

To: TraderAlan who wrote (1820)	11/7/1998 10:47:00 PM
From: Gary Korn	Respond to of 7382

1ST HOUR BREAKOUT -Buy/sell the breakout (breakdown) of the range of the first hour RANGE BREAK and REVERSE -Buy when price breaks back into the 1st hour range. Sell when it reaches the 38% fibonacci retracement of the distance between the bottom and top of the range. Alan, I must have been doing one of these when I traded GERN on Friday. In the first few minutes of trading, the stock zoomed to 22ish (from a close of about 10). Minutes later, I happened to see the stock trading at 17. Instinct told me it would retest the highs, and I bought at 17 1/2 (only to sell way too soon at 18ish). Of course, it did retest the early morning gap, and even exceeded that gap (only to fall late in the day back to 17). Was I effectively trading a range break/reverse? Whatever it was, it seemed obvious at the time (and obvious trades rarely happen to me). Best, Gary Korn