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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade

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To: E. Davies who wrote (1993)6/9/1999 8:09:00 AM
From: William W. Dwyer, Jr.   of 2120
 
Eric,

I'm with you. Lately I find myself trading AOL just to get away from Nasdaq stocks and MM's, using the "usual" Naz stocks as indicators. I also enjoy CMGI on days when things are going my way. Some financial stocks, brokerages, were enjoyable until recently. Contrary to what I said about 10% price swings, I am willing to settle for 5%. :-}

I think the more I stay away from Dell and those stocks, the better I tend to do. Avoiding the best, most talented market makers is a good thing.

Most important to me, though, is finding a volatile stock that not "too" volatile (just very liquid) and also one that is not trading today on major news, good or bad. That tends to change the characteristics of the stock and can catch me off guard. I want one that swings nicely (and predictably), but is only flowing with the market. That way, I can focus on reading the market moves and almost forget about the rest, keeping my job simpler.

Bill

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