To: IQBAL LATIF who wrote (26810 ) 6/5/1999 12:02:00 AM From: IQBAL LATIF Read Replies (1) | Respond to
Market is about trading with supports and resistance, here is another classic example of action required with in a move, at 1311 I had 1305 as my support and 1318 as my resistance, as 1305 was not tested I saw 1318 taken out and 1330 resistance laid in ruins soon after. Look at SOX 402 breaks next target is 440.. for me the real fight is on now at 2505 on Comp give me this break on double close basis I will give you SPM at 1382 and onward to 1430.. I don't short inter day as I feel like doing it, I am never bearish or bullish but I am a reader of the market, a baby reader with very little conventional tools can do it. Now go back and read the posts of your self-styled gurus and see how they have been whipsawed.. Go to 27th May read the trades one by one, and see how they get it all wrong. Paper trade ideas you see and trades you see and the biases you notice this is the best way to learn. Comp 2505 is the next big resistance and we need to see what happens next but to know about future gain from past. Nowhere else you will find a better and more equipped cemetery of non-sensible directions, go to the ever green bear sites and ever green bear posters...see how CNBC Jerry Favors influence them, and notice how they neglect a bounce off 50 days MA..
