Daytrading Canadian stocks in Realtime Message Board

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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime

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To: Lola who wrote (18735)	7/8/1999 5:02:00 PM
From: Cameron	Read Replies (2) of 62348

Lola... the only thing is... everyone here already bought today .... so who's left??? <ggggg> In all seriousness (I'm no expert and this is just my opinion), this is how I read it... I wouldn't be surprised if MCF took a day to consolidate - with ups and down... trying to imagine what the candle stick chart will look like, I think the way that today turned out is slightly bearish, with buyers regaining control towards the end of the day. The medium term trend is pretty positively upward sloping however so the challenge is buying the troughs and selling the peaks if you want to day trade and optimize your return. Having said that, news (including the huge volume) can attract a lot of new buyers... so even if the action today wore down/used up a lot of buyers, there could be a whole new crop tomorrow... the MOMO at the start of the day will tell the story pretty quickly I think. Personally, I think that rumours of strong earnings growth, TSE300 inclusion, NASDAQ listing, CC's reco's are all old news and should all be discounted into the price. The fact that prices jump when something gets repeated (on CBC last night for example) is a real eye opener about how inefficient the stock market can really be. And there is no doubt in my mind that the upward trend will continue as the dates get closer - but at least that provides a nice safety cushion for those mis-timed day trades <gggg>. Anyhow, I'll be watching MCF exclusively tomorrow for signs that demand > supply.... consolidations near resistance points, MOMO, below the medium term trend line... (which is should be just about bang on again with todays close)... etc. ps. Does shorting MCF today - and actually making money on the trade - qualify me to get one of those pictures??? If not for "balls", then for stupidity??? LOL

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