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: Pullin-GS who wrote (518)	2/18/1998 12:20:00 PM
From: Pullin-GS	Read Replies (1) of 2120

*Short on CNBC Hype Disappointment Play* CNBC is used by many traders to gather information on daytrades every day. CNBC often posts a schedule of who they plan to interview and what company they represent. This almost always causes the stock to gain enough for a quick swap. But I miss those often, due to my not being a pro trader. But there is another opportunity that usually (yes usually) pays very well to those with discriminating and conservative approaches to news (anti-news in this case) plays: Sometimes a stock will not only gain a few ticks before the interview, but it will actually run (on no news other than the fact CNBC is interviewing). If I smell an overbought condition, I will sometimes follow the interview and see what happens. If the person from the company is a real dweeb, or has nothing new to offer, the stock will tank...almost every time. Get your short as soon as you smell blood. You will not get another opportunity. (Just covered CVUS for 1/2 pt....if I where patient and timed my entrance better, I would have gotten 1. A perfect trade would have netted 2. Not bad for a $7 stock...its trading in the 5s now.)

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