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Strategies & Market Trends : Intraday Updates, Analysis & Strategies for Daytraders

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To: Jenna who wrote (166)	3/13/2001 1:54:17 PM
From: Jenna	Read Replies (1) of 589

<UPDATE> WE played today on the trendline moves off the 5 minute chart. We went long this morning UP TILL THE FIRST SPIKE HIGH REVERSAL...sold either incrementally or the entire position (based on risk tolerance level).. we then shorted the spike high (or went flat, again depending on your desire to short). the short was held until a reversal at the downside (a minute double bottom, a dark cloud cover, a bearish engulfing, a doji, etc.) Some who sold a little bit too early might have lost fractionally, but we did advocate holding even through 1/2 to 3/4 loss of the original profit to get the beef after the doldrums, and we did. LONG positions were maintained AGAIN at the reversal back to the upside usually at 11:30.. sometimes at 1:00. We were waiting for the 1:30 early reversal period. That was basically the strategy. GOING LONG SHORTING THE SPIKE HIGH.. until the reversal.. etc of course you didn't have to do all the steps.. I opted to hold my long plays (just 2)

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