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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (25153)	4/11/1999 12:42:00 AM
From: IQBAL LATIF	Read Replies (3) \| Respond to of 50167

Look at this new technique of 'Change of market direction like change of pampers', this is based on 'garbage in garbage out'. Perpetual shorts and gurus of doom have loose motions, like a newborn baby they change directions as frequently as baby pampers are required to be changed.' GIGO' Always, it is important for a 'day trader' to keep an exit point. If, I say I will exit from internet if DOW breaks 10,000 it is as irrelevant as exiting 'internets' if Nikkei breaks. The divergence within indices is huge. I think in present market to work on DOW as a proxy is one of the biggest hoax. DOW bears no resemblance with the move of 'nifty fifty' or 'NDX' or even 'Composite'. They have all moved up but the leaders were the one's that offered the best returns. A small test here, if someone had invested across the board in DOW 30 stocks an equal sum of a million $ and same money in NDX, each stock component of two indices receiving equal sums. You would see that your returns on NDX would far outstrip DOW, on charts it all looks the same an 11% against 17% ytd returns of DOW vis a vis NDX. Therefore this thread highlighted always NDX as a major barometer of market direction, I picked up reversal on 8th as result of this anomaly, those who were following defective strategy of DOW as market forward indicator still do that, but they could not simply forecast any direction change. First without SPM no short term market direction can even be imagined, if anyone does it what I call 'fly by night' kiss me not self styled innocent lamb gurus strategies. By posting market manipulation of the locals that some short term direction is pre-decided have now once for all silenced my critics who thought 'market could be charted' or market does what it does'. I have shown that in very short term or visiting the supports like I create 1322 or 1342, SPM is a manipulated instrument, intra-day or even single day wild movements on SPM are mere market noise. This two break of an index is now a currency and well respected one too by the majority who partakes from this thread some idea of the market direction. A day trader would do best to avoid SPM inter support and resistance movements even with a margin of few points. If it tests 1322 it can go down to 1316 and come back up in a same session, visiting these supports and running the stops is how locals make money. DOW index with exception of major support like 10,000 are not at all important for a day trader. These instruments are not the most 'speculative instruments of the investment world' like SPM futures. So taking a cue from them is as useless as asking a blind to lead. The 'bunch of blinds' who make this hoax day in day out basis have realized that they end up with more puts than one requires, as DOW movements rarely generate a signal to buy or sell it is for me SPM or NDX. I have highlighted NDX supports to trade even SPM, again if you are day trading SPM is the most critical indicator, which is SP99M on www.quote.com. I have developed this system of following DOW only to the extent of a broad indicator like Nikkei, the market direction in US for a day trader 'has and will not' follow DOW supports and resistance. To be in and out of the market of 'short term trading' one needs to work on combination of strategies and indices. Overall market direction- depends on primarily big supports of SPX or SPM like 1322 1302 or 1262-4 area, these are major supports. Like 2200 on NDX. Short term trading one looks at 1342 1355 as supports and 1367 area as immediate resistance. On speculative stocks, Internets one needs to follow the DOT index. BKX is one example when I was highlighting a break above 855 and predicting a move to 900 area. It was a classic example of breakout where other indexes were still consolidating, the financials were clearly indicating an upward trend. When this gentleman from 'DEN of self inflicted gun wounds shorts' challenged me at 1272, I knew it so well that he is going to have it on the chin ( he is right now long and proposes similar trade like me) I was closely following BKX recovery the market was moving forward when these guys were buying puts, look at the 'mayhem' when within minutes they keep changing from short to long to short, classic reading on their threads, change of minds like change of pampers. Pathetic display of gross childish trading, who are they trying to fool, the biggest victim are they themselves. I had protective strategy too but mine was "Serbian" tensions that could take the market in a tailspin. The fact of the matter is that strategic puts where lower puts are sold two to one results in no loss if markets move up. Simple tools can well understand markets. If markets were so complex a super processor would handle it all. These waves and minute buy and sell signals are knots of minds they just do not exist in real trading, you got to be pre-positioned in the market braving the fluctuations, seeing that you are not whip sawed and making your way forward as market develops a trend. Once in 10 time they are right and that is the entire basis of continuation of a trade I call the most evil, as in my opinion calling fire in cinema house is unpardonable sin, to keep investors in fear and keep them out with your own limited dimwit approach is an equal crime. I try my best to highlight the inconsistencies and consider it important to let an innocent investor know that first thing you go to do is to learn the KISS technique right at your door step. Learn your supports and resistance's well, learn your MA's well, than learn your rend lines well, once you are equipped with all this learn SP99M action, just keep it on one screen and watch it on a 15 minute chart. All this will make you a better trader. The problem with technique of 'change of direction like of change pampers' that garbage in is garbage out 'GIGO', like abstract art which attracts a lot of critics who gives some credence to the piece of art whose originator had originally no idea of what they were drawing!