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: Dominick who wrote (24)	1/5/1998 9:01:00 PM
From: Ken Wolff	Read Replies (4) of 2120

Dom, I am not sure exactly what you are asking but I will try to answer. I use certain criteria that signal that a pattern has started. For instance on a Dumper, I look for stocks that dump 20% or greater. You can find these in many places. AB Wately has a program that is free called Scammer. Or you can find it in the gainers and losers screens of most brokers, I use AB Watleys gainer/dumper screens. I then look at spread and volume. Volume must be high and spread low (1/8th) or I will just let it go. If it meets that criteria, I find out why it is dumping with various news services. If it is not VERY bad news like SEC investigation, Fraud or something else real bad, I look for the bottom. I also determine what the "upside potential" is. More on upside potential later... If it meets the upside potential and I jump in. Do you use Point & Figure charts Many traders in the room use charts and find it very useful. I personally do all my trading with simple quote screens and TOS (time of sale). Good luck, Ken mtrader.com

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