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Mark:
Just some alternative views on your observations:
"Crude Oil is in the middle of the pack. But
a lot of people have made a lot of money,
following trends in CL."
Crude oil looks nice technically. Just noticed recently, got it dialed in,
and starting to investigate now. If Bush (hopefully) leaves office soon, all
oil
securities may settle down significantly (the "Oil" President & VP).
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"The S&P500, considered deadly poison by trend
traders, is slightly below average but not
in the bottom ten."
ES is the fairest market with Sure Demand and no
Specialists/Insiders/Floortraders.
And it has long TA learning curve which is not only valuable in itself,
but it is also the means to a fairly reliable income.
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"Non-US markets occupy more than half of the
top ten slots for trendiness, 38 of 70!
(7 ADX lengths times 10 slots equals 70 total
slots). If you don't trade the non-US markets,
maybe you might reconsider."
I get unanswered calls from commodity Brokers often.
Sometimes the trendiest markets are not the fairest and might have the most
slippage;
since if its been trending, where does it go now?
But the trade volume characteristics, order mechanisms, and exchange
integrity would mean allot to me.
Floor traders, Specialists, Insiders, or low volume forget it: not with my
money.
I have heard, for example, the Euro, YM, and NQ are good markets as well,
and may well be so.
My concern is the lighter "Non-US" markets can be 'floor traded' easier,
since (i.e.) doesn't Europe have
a high tech chip on credit cards of EVERYONE that's collects data on one
large computer (in Scandanavia I believe)
that knows everything about everybody's history/purchases/etc... up to any
point in (real) time?
And its a disciplined offense (added surcharges) for someone not to have one
of these high tech jewels,
if I'm not mistaken.
As an Engineer and Statistician, this is not only alarming, but a warning to
the weary.
I often hear allot of reasons to trade allot of things, but the reasons
haven't been compelling enough (yet).
And anyway, compared to the ES, it would be hard and too risky to wake up in
the middle of the
night to watch paint dry.
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Enjoyed your article, and hope you didn't mind an alternative view for
balance.
Thanks,
Phil Bailey
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