DAYTRADING Fundamentals Message Board

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Strategies & Market Trends : DAYTRADING Fundamentals

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To: TraderAlan who wrote (9067)	6/20/2000 8:45:00 PM
From: WaveSeeker	Read Replies (1) of 18137

Alan, A few observations based exactly on the phenomena you are describing: 1. The increase in the number of swing shakeouts. Classic case from the other day. GENE has a 1-2-3-4 pullback in a strong uptrend, closes at 26 1/8 after breaking the previous day's high. The next day (in the absence of news), it gaps down 1 1/4 points, blows out the swing stops near the low of the day, then proceeds to swing to new intermediate highs. 2. The improved performance of countertrend systems. For example, look for a high-cap tech stock (or any sector index to eliminate individual stock risk) ending the week on a low. The following week, buy the sector / stock on a two standard deviation break of the previous low. 3. Anticipation trading - a way to front run patterns generated by real-time scanning systems, i.e., get in before the breakout crowd. WS

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