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royg1927

09/25/14 9:13 PM

#17866 RE: jmbar2 #17863

Jane, hi.

I'm reluctant to let my mind get the idea that it even sort of knows how far. For a long time now, I've been sure that following my indicators gets better trading results here.

Too often when I've succumbed to the feeling from news and other "should be's", it has cost me money. Just get wedded to the notion that I'm just a little soon (or whatever) and next thing I know I'm in a deep hole.

My emotions and resulting brain effort perform poorly in that situation, hence my basic effort is to not take a big loss. It doesn't seem to bother me nearly as much when I get slightly under water and sell, only to see the thing turn and go gang busters the "right" way without me.

So it's the same ol' tired(?) answer: learn the indicators well and follow wherever and when they say, being always ready to exit when they (indicators) or my read don't turn out well.

Look Jane, I'm a committed technical analyst in my trading. Do I pay attention to the news? SURE, keep CNBC running all day, but unobtrusively. When something pops up my first and continuing attention is to see what the 5 and 1-minute indicators are doing. Often my own reaction is NOT what the market thinks, but Roy didn't get to make a trade destined to be wrong.

Technical analysis is difficult. Very hard. Takes a lot of work and long time. Not many really get committed to it and make it work, even when they give lip service and (I think) believe they are competent. I'm pretty sure that many minds are just not built for the task. Another angle is that some are not entirely honest with themselves.

All the above ramblings. Okay. I am alert for weakness in many issues along in here. That's all I will say.

royg1927

09/25/14 9:35 PM

#17868 RE: jmbar2 #17863

Jane, do you mean SPX could get down to the 1920s? Instead of SPY?

Yeah, that's in the vicinity of the August low at 1904, a natural support, many would say.