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No, they read charts, and don't much care what market makers are doing.
In a message dated 12/13/99 6:43:32 PM Pacific Standard Time,
owen@xxxxxxxxxxxxx writes:
> Sigstroker observed:
>
> >I have to disagree with this. Some of the best stock daytraders I know
rely
> >solely on TA. If you think stocks have a small daily range, you've been
> >asleep during the 90's.
> >
> >jberentson@xxxxxxxxxx writes:
> >
> >> 1. Day trading stocks using technical analysis is, in my opinion, one of
> the
> >> most difficult things one can attempt, simply because stocks have a
> small
> >> daily range and will react to specific company, industry and general
> market
> >> conditions. Stock day traders play a different game of reading the
> strategy
> >> of market makers and generally do not rely on technical analysis.
>
>
> When it comes right down to it, anything I can think of that would let you
> "read the strategy of market makers" would pretty much have to qualify as
> TA.
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