Market Wizards: Interviews with Top Traders

media reports the reasons for the market being down. They

myself as the “system,” I constantly change the input to achieve the same output—profit!

It is experience and gut feel. I use all forms of technical analysis, but interpret

mid-range where the momentum is greatest. That, to me, is trading like a sparrow eats.

there is no chance it can lose its prey, does it attack. That, to me, is the epitome of professional trading.

and I felt the market was topping out. I had become very interested

Is the implied rule that if you find a common behavior between markets, you want to sell the one that is lagging as soon as it starts heading down? You absolutely want to put down a bet when a market acts terribly relative to everything else. When the news is wonderful and a market can’t go up, then you want to be sure to be short.