I'm fairly new to trading and have been following this great thread for a couple of weeks and have a couple of questions.
1. Hotcopper, esp day trade diaries is great but are there other chat forums that are as good/better that you guys also look at to get info from?
2. It seems sentiment now is cautious as the market seems to have been overbought. What do you daytraders do during retracement, do you just cash out and wait on the sideline for reentry in a couple of weeks or is there usually still a good trading range to be had on the way down?
3. What usually happens to defensives such as wow, tls, coh when the sentiment goes bearish and a general retracement is happening. Do these usually rise or just don't retrace like the more cylical stocks others?.
Anyway hope someone can shed some light on these questions as i'm sure many people here have seen these bounces before.
