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<DIV><FONT face=System size=4><STRONG> to daytrade, or position
trade</STRONG></FONT></DIV>
<DIV><FONT face=System size=4><STRONG>-I think if they were also to do a study
on position traders, the numbers would</STRONG></FONT></DIV>
<DIV><FONT face=System size=4><STRONG>be much worse, as most people who start
out bought some course claiming</STRONG></FONT></DIV>
<DIV><FONT face=System size=4><STRONG>one can make a killing with as little as
5k, a lot of these courses mention</STRONG></FONT></DIV>
<DIV><FONT face=System size=4><STRONG>very little about liquidity, I always
wondered how many newbies got fried</STRONG></FONT></DIV>
<DIV><FONT face=System size=4><STRONG>in the bellie market,
</STRONG></FONT></DIV>
<DIV><FONT face=System
size=4><STRONG>
goodtrading /TED</STRONG></FONT></DIV></BODY></HTML>
</x-html>From ???@??? Tue Aug 10 05:32:44 1999
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Date: Tue, 10 Aug 1999 06:25:40 -0500
From: Steve Walker <Steve@xxxxxxxxxxxx>
To: jvc689@xxxxxxx
Cc: realtraders@xxxxxxxxxxxx
Subject: Re: Support/Resistance for 8/10/99
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Status:
Good Morning John,
On the NDX, I calculate daily R&S as 2207-2164; weekly is 2260-2101.
For the OEX, I calculate daily as 675-668; weekly as 683-657.
My trading directional indicators have me looking for a short entry. It would take a rally to the weekly resistance level to set up a tradeable pattern for me.
A strong move seems at hand. Yesterday was an inside day and by my calc today is a Gann Square day. Probably will move to the downside and unfortunately, I am not positioned for it. Unless the market opens to the high side (not likely) I will stand aside today.
Steve
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