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Strategies & Market Trends : DAYTRADING Fundamentals
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To: Mark Davis who wrote (12115)3/1/2001 7:53:34 PM
From: TheStockStalker  Read Replies (4) of 18137
 
Now that there are QQQ's and SPY's that are quite liquid, what is the justification for trading a dozen or more stocks ? Unless you are able to hand pick the strongest and weakest stocks consistently, its a lot of trouble,

I do not want to equal the performance of an index I want to beat it. So if I only buy the stocks making new highs from some consolidation and avoid the ones making new lows, I will outperform the index everyday. I am also buying stocks based on the individual chart patterns and not the Index or Futures chart patterns. Before an index turns up it means that most the stocks that make up that index have ALREADY turned up enough to offset the ones that are down. I like to already be in those individual leaders before the crowd which is jumping in solely because the index is just beginning to turn up again. They are already late. IOW I trade in the direction of the market BUT get into stocks based on individual chart patterns and not index patterns. I can make more money in the leaders than I can in just the Q's. What is so hard about hand picking stocks that are going up? I am not guessing which ones are going up but actually buying the ones that are actually in the process of going up. It is worth the "Trouble"..

PDT
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