|
PureBytes Links
Trading Reference Links
|
EXACTLY, NW!
The day the Rubin Rumor drove the DOW down 200 pts it had the feel of an
over-reaction. This gets played out countless times in less visible ways.
What the sheep
were doing was clear, and clearly wrong. Many of us made money on the way
up
if not both ways that 20 minutes.
Baaaaaaaaaaaa!
-----Original Message-----
From: nwinski <nwinski@xxxxxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Saturday, May 22, 1999 8:14 PM
Subject: Re: Doing your pre-trading research.
>
>
>Fred wrote:
>
>> I have been daytrading for a while now. I do lots of research the night
>> before (and the morning before) the trading day starts.
>>
>> I am looking at earnings, splits, upgrades, newsworthy events. After
all
>> this research, I am NOT sure how much good it is doing for me during my
>> datyrading daily activity. There seems to be little cause-effect from
this
>> information. For instance, if a strong stock splits....50% of those
stocks
>> go up and 50% of them go down on an intraday volatiliyt chart.
>>
>> What would be the highest gain things to do?
>
>NW: Remember, if you know it, so does everyone else. So what good is it to
study
>all that stuff and trade accordingly? A better bet is to wait for all the
sheep
>to react to the news and then do the opposite. After a new item has been
>discounted in the price, there is no place for it to go but the opposite
>direction. You will experience the joy of buying on weakness, selling on
>strength, and providing much needed liquidity to the marketplace. For this
you
>will be handsomely rewarded, if not on this plane, then in Karmic credits.
Or in
>the wise words of Ali Baa Baa and the 40 brokers, "feed the sheep and they
will
>follow." Ewe deserve a break today. Lamb stew anyone?
>
>Sheepishly,
>
>Norman
>
>
|