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 (315)	1/18/1998 11:38:00 AM
From: Ken Wolff	Read Replies (3) of 2120

GAINERS (Part II) (continued...) A Gainer that gaps up 10% or more with a "weak" story or one that does not affect its earnings in the near future should be considered as an OPEN SHORT candidate. Most of the time these gainers will fall right at the open but sometimes they make a small run to the upside. I watch for trades occurring at the BID price which is my tip off as to the strength or weakness. OPEN SHORTS must be played fast or you will miss them. I keep my diary and work out the percentages. I will normally cover after the first run down at the pause because in a strong market many traders will be buying on the pullbacks. A VERY GOOD story gainer should be shorted at the high on the second day which will be at the open usually. (continued...) Ken

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