Ssi

[Iceman]

bought a book (very expensive) about a year ago and just started reading it. I think it will give me a grasp on what you are doing it. It is by Tony Oz, have you ever heard of him? It's called "The Stock Trader".

I will throw some questions out at you in this thread if you don't mind.

First,
when you buy a posistion in a stock it is mainly off if what you read on the chart? Not so much about the particular product, correct?

It looks to me ( maybe wrong will know later today) that he looks at every stocks support and resistencle levels and goes from there. I have seen you use terms like this in the past. Is this correct and can you explain briefly about them for others?

I have a buddy who is VERY interested in learning this and is reading from a distance (not a poster) so keep up the good work.

 

[SSI]

Ice, yes about supp and resistance......... that is probably my most effective tool........

first i grasp the overall trend of the market, that im looking at........ simply looking at a chart will show you, if the trend is up or down or sideways..

then it can become as simple as buying DIPS on SUPPORT in UPTRENDING markets or selling RALLYS on RESISTANCE in DOWNTRENDING markets...

once i have this established, ill look at a shorter time frame, as in the highs and lows of the past few days..... this will show you where the market has turned.......... or where the selling and buying dried up.........

let me tell you......... im devoting 100% of my current time to commodity trading...... so i cant help you on individual stocks........ chart reading is similar in both commodities and stocks...... however commodities are much faster moving (for the most part)........

fire away with any ???????? i havent read the book that you refer to.......

also realize stocks and commodities are very different,,,,,,,,,, as is....... investing and trading....... your talking about 2 different things........