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Personally I mainly stick to swing and position trading the SP. Seems far
simpler that trying to guess the intraday wiggles. For example, how about a
day where the stock market makes a new low but then closes near the top of
the range, above the open, on a sharp increase in volume. This happened on
8/5 and again on 8/11 in the NYSE. Works for me! It may not be the real
bottom but usually will pop for a few days. Hint: The most reliable signals
occur in Nasdaq for some reason.
Trouble is, it's kind of like watching paint dry. Meanwhile the lure of
daytrading is compelling. Make big money fast! Live the dream!! Etc. Toward
that end I've been looking at a system using the nyse TICK data. Seems
promising, but the update rate is somewhat lacking. For example right now
the price is doing something promising but the $TICK symbol hasn't updated
in 10 minutes! Too bad I can't tell what's going on.
Question: Is this the way the exchange broadcasts it, or is it this crummy
datafeed?
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