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: G.F. who wrote (447)	2/4/1998 4:49:00 PM
From: Ken Wolff	Read Replies (1) of 2120

GF, I track all patterns very closely. For example I will write down a particular pattern such as 1st day dumpers. Today we played 2 dumpers ONDI and PRGO...these are the important facts you should consider: 1. Did they go up or down from the OPEN??? 2. Did they go up from the first bottom and stay up or make another bottom??? 3. What was the percentage rise before a sell off?? 4. What was the trading range on the day??? 5. How did the stock end today, strong or weak (selling or buying)?? 6. What does it do tomorrow??? gap up or down or even??? Lately first day dumpers have made only one bottom most of the time so if you can recognize it you can buy(We bought both bottoms on ONDI and PRGO and made good money). ONDI made 2 bottoms so we took a small loss with the first bottom but more than made up for it on the second. I am very fortunate because I can memorize and keep the current percentages in my head so I can react to trades very fast.... Good Luck Ken mtrader.com

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