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Strategies & Market Trends : Trading From Main Street.

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To: Brandon who started this subject	5/8/2001 11:39:32 AM
From: Brandon	Read Replies (1) of 226

Rather slow day to this point. Trend days often present a trader with the best opportunity to make money. They tend to occur off gaps and follow narrow range days. So, with todays gap up after yesterdays range day on light volume I was expecting a trend day to the upside. As the first few minutes of the day progressed though things started to show signs that this would not be the case. One thing I like to see is the tick confirm a gap..so, for me to trust a strong up gap, I like to see the TICKS go over +500 in the first 30 minutes of the day. This did not happen and the TICKS in fact rolled over. Also, from the first few minutes of the day some of the market leaders got a good bit more selling than we would like to see. Because at the open I did feel there was a strong chance for a trend day we took a trade in AIG long with small shares (because we took it before anything confirmed) which resulted in a 50 cent stop. SNPS was the other trade taken..it was showing good RS so was taken long..gains of 50 to 75 cents in that one. Good Trading, Brandon teachmetotrade.com

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