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 (178)	1/13/1998 1:14:00 AM
From: Ken Wolff	Read Replies (1) of 2120

DUMPERS AT THE END OF DAY A DUMPER stock should be watched at the end of the day for buying action in the last 5 minutes of the trading session. If a dumper stock gets steady buying near the close, I will buy the stock for an overnight hold. I always take notes on how many dumpers will open on the second day to establish a pattern that tells me the percentage of success I will have if I purchased a dumper at the end of the first day. I will hold the trade overnight and sell at the open on the second day if the percentages warrant the risk. An end of day (EOD) purchase should be sold at the open to insure against another heavy run to the downside which sometimes happens. I ususally place a market order to sell my overnight hold 5 minutes before the open. I wll consider shorting at the open also according to the percentage of dumpers that go down from the open on the second day. I will try to buy after the first sell off if I feel the potential for recovery is sufficient enough to provide nice profits. Ken mtrader.com

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