Momentum Daytrading - Tricks of the Trade Message Board

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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade

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To: Ken Wolff who wrote ()	1/5/1998 2:32:00 AM
From: Ken Wolff	of 2120

GAINER PATTERN - Gainers are stocks that are up on good news. I feel that Wall Street always overreacts to both bad and good news. In the case of good news, everyone wants onboard, and I like to take advantage of this overreaction and ride the wave! An example of a GAINER would be a company who releases favorable earnings report, or is upgraded by an analyst. If reported after the bell, the stock normally will gap up the next day. If the story is very strong, the stock normally opens up with a gap up, sells off then takes off upward. I usually buy at the first dip or sell off and ride the momentum up. If the story is weak, I like to short at the first high and wait for the street to digest and understand the news. Once they do, the stock normally drops a fair amount. Again, I like to take advantage of the streets overreaction to the "weak" good news. Ken mtrader.com

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