DAYTRADING Fundamentals Message Board

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Strategies & Market Trends : DAYTRADING Fundamentals

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To: compradun who wrote (5190)	11/4/1999 9:43:00 PM
From: fftrader	Read Replies (1) of 18137

Hi compradun, <How many people here trade 52 wk breakouts?> I traded them for awhile about 10 years ago after taking an advanced investment workshop with Bill O'Niel (IBD). This was his forte, and he was big on Cup and Handle and Basing formations but solely from an investor standpoint. He was mainly using daily charts, but I'm sure the concepts would work on shorter time frames for daytraders. Being new to daytrading I haven't had a chance to make these plays yet, and after reading Connors "Street Smarts" will proceed with extreme caution. His Turtle Soup plays are based on false breakouts of new highs(with shorter time frames)which are contrary to upward breakout(new high)plays. It seems to me that the wiggle you can allow and stop out points could make or break the play. ff

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