MDA - Market Direction Analysis

[was Steve]

hey mish,
yes only a handful is needed. i too have the semi equip guys on my quote screen but not graphically. actually for the last few months i have added an oil driller. i use rig, but i imagine a whopper like SLB or DO would be just as good or better. So lately i have ameritrades realtime quote screen up with three mini real time charts on the right hand side for RIG, MSFT and QLGC. then when it gets near time to buy options i add the option graph to the page so now i have 4 realtime charts up.

the oil drillers will move contrary to the msfts of the world on many days, but not all. so based on their current interrelationship, i get an extra bit of feedback on my entry. lets say its a day they move in opposite directions. if im looking for spx calls, i want to see msft/qlgc bottoming or at a reversal area and i want to see rig topping. it can be great confirmation. i imagine the gold stocks can be used in same manner, but i dont follow them. i always have target areas for turns ahead of time. when i see the proper action in these three i enter the option trade.

steve