Pump's daily trading recs, emphasis on short selling Message Board

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Strategies & Market Trends : Pump's daily trading recs, emphasis on short selling

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To: Dr. Stoxx who wrote (3832)	7/15/2001 5:37:51 PM
From: Michail Shadkin	Read Replies (1) of 6873

Thomas Carr - Re: low ADV stocks and lots size I dont increase my lot sizes as the account grows. I take profit monies out EOM and EOQ and dollar cost average into value and income funds, as well as some bonds. For this reason I always keep my full position at 100K or roughly 6% of portfolio and never increase the base numbers. Low ADV stocks These generally represent about 1/3 of my holdings. I never have any problems with lower volumes stocks on fills. I only short them when they get big pumps and volume is up. I use limit orders only and they are placed well before the price target is ever reached. On the cover side, I dont flash any big orders. (usually no more than 2k at a time at a limit) Example: I am short 6300 shares of ILMN total. average volume is 124k/day lets say I want to cover around 11.50 I would just spray 4-5 different orders with different limits around 11.50 long before the stock even gets there. Orders are usually through Datek and are all shown on ISLD. On Level2 only the top limit can be seen until it is filled. Dont forget that ILMN is not a very short term trade, but rather medium term. I have no problem holding it and eventually will cover on a nice down day. Covering low ADV pos stocks on up days is usually a bad idea as this just adds fuel to the fire. I almost never do this. Advantages of lower volume stocks: most are very independant of the overall market. I usually only short them after nice pumps and the ones I do are usually pos variety. They usually fall fast and hard, once they brake. Gravity usually works great here. Perfect example was thursday and friday. Market flew both days. I was significantly short both days and made a very nice profit for the 2 days combined. traderpulse.com Michail

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