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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: Glenn who wrote (38291)	5/11/1999 12:32:00 AM
From: kathyh	Respond to of 90042

i will take a look at those tulips in the morning glenn... one last last thing before i go... an interesting post on the current trading environment from the daytraders thread tim recommended... night all... turning computer off now... there is always just "one more thing" out there if you look... <ggg> kathy :) To: Taf (7228 ) From: Taf Monday, May 10 1999 7:36PM ET Reply # of 7231 Good Summary Of Current Trading Environment By Briefing.com: DAYTRADER: Oil services have been working. Basic materials and cyclicals have outperformed. But while renewal of interest in the blue collar stocks has almost single-handedly lifted the Dow through 11,000, the portion of the market that professional traders have relied on to pay the bills has been decidedly negative. As Yahoo! chart shows, the stock has fallen almost 40% over the past month. Over the past two weeks, Amazon.com (AMZN) and eBay (EBAY) down approximately 40% and 20%, respectively. Experienced traders have learned that an Internet correction sweeps over the market at least once a quarter. Unless one also willing to short stocks (which has become increasingly difficult and dangerous), this is a very challenging environment in which to day trade. Under these conditions, trading strategy switches from participating in break-out moves to buying stocks on weakness and hoping that support holds. Likely that those novice traders who have not adjusted their trading style to adapt to recent change in market conditions being haunted by the constant sucking sound caused by self-inflicted account churning. Unless they are able to stop the bleeding by falling for fewer head fakes and applying more stringent loss management controls, many of these pour souls won't be around to participate in the next Internet momentum move.