Thanks again Vegas for your reply.
I guess I should have been a little more specific -My meaning of long term, especially with the type of stocks we're tracking, as in a few weeks to a month. Short term as in a couple days to a week.
Regarding the major indices, - I've noticed many traders tracking them along with the sector indices and the leading companies in these sectors, such as the fertilizer leading company, - Potash Corporation - POT.TO
Not knowing quite what I was doing, I bought some shares in what they call a junior company called POTASH NORTH CORP... PON.V
This was one of the picks I saw on BNN on TV... Two mega-rich venture capitalist billionaires - Lukas Lundin and Robert Friedland are backing this company.
With potash being the leader on the TSE, and Potash Corp doing so well, I thought that maybe this junior with the strong backing would follow with the positive pressure.
From the technical aspect, I thought that the stock was making a flag formation attached to the pole with the diminishing volume that seemed common in corrective moves when stocks get ready to move up again.
If I would have been using the indicators that DOC uses and the knowledge that I'm acquiring here, I wouldn't have bought in... at least not yet.
Also seeing the negative pressure in the TSE and and the overbought status indicated in charts for POT.TO would have prevented my jumping in at that time.
This is what I was trying to say about the correlation between the major indices and sector indices and their potential affects on... even the tiny stocks we're following.
So, if all signs are go in a specific sector, will our tiny stocks also have some positive momentum.
And of course with the psychological aspect that we feel we did the right thing.