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Strategies & Market Trends : From the Trading Desk

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To: steve goldman who wrote (1802)11/28/1997 9:19:00 PM
From: Harry Ehrlich  Read Replies (1) of 4969
 
Hi Steve, I am slowly making the transition from investor to position trader and ultimately to day trader. As an investor, I have been working with a rather large list of stocks; approximately 800. The list is made up of NYSE, Nasdaq and AMEX stocks with high relative price and earnings strength (from the Investors Business Daily). I screen the stocks via my software for the technical analysis portion of my investing strategy.

But as I move towards short term and day trading, this large list is too cumbersome. I do not have time to go through all those charts on a daily basis. I was hoping you, as well as others on this thread, could give me some tips on creating a hit list for day trading. I need info such as:

1. Approximately how many stocks should the list contain?
2. What is the criterion for daily volume traded?
3. What is the criterion for volatility? Measured as beta?
4. Sources for creating the list.
5. How to add/delete stocks to keep the list current.
6. Specific stocks to day trade.
7. What to look for in a stock to day trade.

Any help would be appreciated.

Harry
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