|
PureBytes Links
Trading Reference Links
|
Ray,
>From what I gather from the yahoo message boards, they don't believe in
correction, just add more money. Now they are looking for long term, many have
bought on margin. Looks like history will repeat itself one more time
(1929-1932). This is not just internet stocks, tech stocks as well.
TradeWell,
Joe Frabosilio
RAY RAFFURTY wrote:
> Hi Steve,
>
> Right now it depends on tomorrow's employment report. A very mild report
> will move the market up, otherwise it is likely down. Next week: additional
> reports and then the FOMC meeting on Aug 24th.
>
> The kids playing the Internet stocks have learned the meaning of
> "correction". I suspect they may soon learn the meaning of "dead cat
> bounce" after today.
>
> Comments anyone?
>
> Good luck and good trading,
>
> Ray Raffurty
>
> ----- Original Message -----
> From: Steve Walker <Steve@xxxxxxxxxxxx>
> To: <Steve@xxxxxxxxxxxx>; <realtraders@xxxxxxxxxxxx>
> Sent: Thursday, August 05, 1999 4:00 PM
> Subject: Re: GEN: Near a turning point?
>
> > Well the question for today has been answered. The IIX, NDX, OEX all
> bounced off support.
> >
> > The bounce was not enough to make my short term indicators trip. Even if
> they had, I would not likely go Long with the weekly indicators so weak.
> >
> > Will there be any follow thru? Comments?
> >
> > Steve
> >
> > >>> Steve Walker <Steve@xxxxxxxxxxxx> 08/05 5:23 AM >>>
> > Is buying going to come back into the market soon?
> >
> > I analyze three indexes in multiple time frames to guide my trade entrance
> and exits. Those indexes are the IIX, NDX, OEX. My theory is that the IIX
> and NDX lead the broader market. The OEX is pretty much in lockstep with
> the SPX and I often trade options on this index (mostly I trade stocks). As
> for time frames, I focus on hourly, daily and weekly data. For a Long
> entry, I look for the hourly indicators to be UP, the daily indicators DOWN,
> and the weekly indicators UP. My indicators are simple, a mixture of moving
> averages and oscillators.
> >
> > Right now my indicators are: DOWN, DOWN, DOWN and have been since the
> close of 7/29/99. However,by my calculation, we are at support levels as of
> Wedneday's close . Also, Friday is a Gann Square Date. So, looks to me as
> if we are at a juncture here. Will be interesting.
> >
> > Steve
> >
> >
> >
> >
> >
> !
> > !
> >
> >
> >
|