DAYTRADING Fundamentals Message Board

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Strategies & Market Trends : DAYTRADING Fundamentals

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To: - who wrote (302)	6/8/1999 3:53:00 PM
From: Cian	of 18137

Thanks Palo Alto for the gap info. I'm a Canadian daytrader on the Toronto Stock Exchange (TSE) only. For what it's worth, to identify overnight gaps I monitor both percentage gain and volume using a stock scanner program that can be adjusted for the price range of all stocks on the TSE I'm interested in. I monitor the program at a minimum of 4 times per day. The most important being an hour after the open and 45 minutes prior to the close. For overnight gaps I'm looking for the 52 week price or volume hi. In the Canadian experience if volume or price is at the 52 week hi it is "almost" a 95% certainty the stock will gap the next morning. I also monitor a number of boards for info on fast moving stocks, an example is a Canadian $5.00 and Under board that has some people whose "instincts" I trust. But always do your own DD, ALWAYS! I agree with you that an uptick at the end of the day is important. I generally find that if a stock is not at the 52 week hi after a surge the gap is not as significant and I have been burned a couple of times. Our runs usually last 3 days, day 1 and 2 being the most important. Eric, good thread. Regards, Cian

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