Rare Consistency

• September 21, 2001
• Dave Floyd

Today’s article will be abbreviated. I
will only be supplying the Key Technical Numbers (KTNs). Given the way
the market has been trading, the approach intraday can, at times, be a bit
unconventional. However, one thing is proving to be consistent, and that is the
futures markets finding support and resistance areas at technical levels. Since
Monday, I have made many trades with excellent follow through using these
numbers. 

I plan for Monday’s article to be more comprehensive as well as offering some
observations for longer-term plays. Polycom
(
PCLM |
Quote |
Chart |
News |
PowerRating), which I had
mentioned in Wednesday’s article, has proved thus far to be a good trade from
the short side (use protective stops though). Washington Mutual
(
WM |
Quote |
Chart |
News |
PowerRating)
is a bank stock that for the most part has bucked the trend this week in the
beaten-up bank sector. Depending on your view, this can either be encouraging,
or offer a way to get short on abnormal price action. Technically, the stock is
resting on its 200-day moving average, $35.11. I will cover this stock a bit
more in Monday’s article.

Key Technical Numbers: (futures)

Have a great trading day and weekend. I will be in TradersWire off and
on today sharing my observations.

Dave

P.S.
I’m looking forward to sharing the nuts and bolts of how I trade at TM2001
in early October. You’ll learn the two big keys to my trading: 1)
How to define a powerful intraday trend; and 2) The precise
parameters that tell you where to enter your trade in the midst of that trend.
I will also explain to you the “feel and rhythm” that enables me to
trade like
with
consistency. This is one element of my trading that I could
never convey on paper through a set of rules or a formula. You’ll just have to
meet me in Las Vegas, and you’ll know what I mean!