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can you please define "oversold" to me or "overbought". It is apparent that
you have been trading the uptrend in the nasdaq 100 (tech stocks) by 1)
noticing a trend and then positioning yourself in that trend when
retracements have taken place. How you "time" your entries I believe has
more to do w/ entering on a climax of selling pressure (w/in an UPtrend) or
noticing/SEEING when the retracement has ended. If you believe that
"oversold" conditions exist and you can capitilize on that then more power
to you. It does suit my trading to believe such things. As far as my
"brain" is concerned, all I can say (from experience) is that my "brain"
,meaning my "analysis" has cost me more money than my eyes have ever cost
me. And from what I have seen in over 16 years of trading that I am not the
only one this ailment has effected. LTCM as a prime example.
Whatever works for you, I know what works for me.
Brainless,
Randy Lopez
----- Original Message -----
From: "Steve Karnish" <kernish@xxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, February 25, 2000 9:11 AM
Subject: [RT] Re: There is always "a morning after"
> Randy writes:
>
> I believe this idea of "overbought/Oversold" is hogwash. I believe it was
> Pablo Picasso who said, " If only we could pull out our brain and use only
> our eyes."
>
> I can only assume, after the reading the above statement, the brain has
> already been removed. In fact, maybe the eyeballs were also plucked. I
use
> oversold indicators to time into the NASDAQ 100 stocks. After viewing the
> last year of signals at my site...please advise if their is a better way
to
> time into these volatile issues.
>
> I'm all eyes, the synapses stopped firing years ago,
>
> Steve Karnish
> Cedar Creek Trading
> http://www.cedarcreektrading.com
>
> ----- Original Message -----
> From: rlopes <rlopes@xxxxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxxxxxxxxxxxxx@realtraders.com>
> Sent: Friday, February 25, 2000 7:20 AM
> Subject: [RT] Re: There is always "a morning after"
>
>
> > I think what you've said here is right on target. I have missed my fair
> > share of profits from this same type of analysis. I believe this idea
of
> > "overbought/Oversold" is hogwash. Where else in life does one come
across
> > the notion that something is "overbought" or "oversold" This only comes
> > from tech analysis of the markets and whoever came up with this notion
has
> > gotten a whole lot of people to buy into this. Let's look at what is
> > ACTUALLY happening here. The Nasdaq stocks are going up. If this is
> indeed
> > the infancy of the building of a global network of communication and
> > business, and these products are on the verge of becoming main stream
> > globally, then who can say what price these companies supplying the
> > infrastructure can go to? As I look around networked communications
have
> > just started to be built. The tech stocks are giving a CLEAR signal,
this
> > sector of the market is still going up. Our jobs as traders is not to
> lead
> > the market but to follow and adjusted as we SEE conditions change. I
> > believe it was Pablo Picasso who said, " If only we could pull out our
> brain
> > and use only our eyes."
> >
> > Just thinking out loud
> > Good trading,
> >
> > Randy Lopez
> > ----- Original Message -----
> > From: "Phil Lane" <patterntrader@xxxxxxxxxx>
> > To: <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Friday, February 25, 2000 6:13 AM
> > Subject: [RT] Re: There is always "a morning after"
> >
> >
> > > Just to show you what can happen, a friend of mine was doing great in
> > stocks
> > > back in the early 90s. But suddenly he decided the market was too high
> and
> > > sold out. Has been out ever since!
> > >
> > > rgds phil
> > >
> > >
> >
> >
> >
>
>
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