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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: HairBall who wrote (12516)	4/30/1999 1:40:00 PM
From: bearshark	Read Replies (2) \| Respond to of 99985

LG: It sounds like you look at several real-time technical indicators and read them. They are great and they are more modern than my methods. When I was a kid, all I could think of was sitting in the nice cushioned seats of my broker and reading that tape. (A few other things also passed through my mind too.) Me and the cigar-smoking retirees. When I first saw FNN on TV, I could see that tape at home. The numbers on the tape sing. During the day, I do not use any technical data. That is stored in my head. All I do is look at the numbers, jot things down in a notepad, and look up and down from the notepad to the numbers. I do not think I could use the things that you do because I am not accustomed to them. I am a relic whose head is crammed with 30 years of daily action. If that is not enough, the actual numbers are on my spreadsheets. I judge the action by looking at such things as the relationship of one average to another; relationships of issues and volume, etc. There are some modern things thrown in but they are additional numbers provided by the internet. I never had this stuff when I first started. Here is another example. Remember when we had that wild futures morning when they were all down 20 or more? We should have opened with a 170 point drop in the INDU. We ended up with a drop of 60 or so. That was the first thing. However, the relationship of the other numbers was also inconsistent with what should have happened. The tape was screaming buy me, buy me. If you have lived at the same address for many years, you know exactly how things should look when you move through your neighborhood. If something is out of place and you are observant, you can spot it immediately. That is what I do--only it is a picture of how the pure stock numbers should look and work together.