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Strategies & Market Trends : DAYTRADING Fundamentals
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To: mpg111 who wrote (9450)7/7/2000 1:39:13 AM
From: OZ  Read Replies (1) of 18137
 
My general rules for overnights:

I never sell a gap down. I watch and see how the stock responds first at the opening. Frequently the gaps get closed in a vacuum. I often add to the position if in the money.

I often sell half or all if a gap up is large enough and I already have enough in the trade. Be careful buying back because it will affect Buying Power more than if you bought another stock for the same amount. It is treated as a "Day Trade". This is a complicated issue and will not go into it further.

If it opens flat (my preference), I treat it as if it was the same day I bought it and base my exit on criteria already established.

Why does you broker (order entry firm) not allow stops. Are you sure about that???? Most do half in house stop systems in place (which are even better than listed stocks).

OZ
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