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 (558)	2/22/1998 10:13:00 AM
From: Pete	Read Replies (1) of 2120

Ken, I've been going through this thread over the past week and find it extremely valuable. I'd be interested in knowing how to get a copy of your book. As I read about people trading on published news stories, I got to thinking of another possible source for short candidates. In my earlier "investing" days, I used to get excited about companies mentioned in Investors Business Daily New America page. Like many others, I'd buy a few shares on the day the story came out. Many of them gapped at the open and would settle back within a few days. Since I couldn't spend my days watching the tape, I usually got "stuck" in the stock for a while, and sometimes had to bail out a significant loss. I know many people here are day traders, so holding overnight is not common, but the pattern I was in got me thinking that I would be better off shorting these companies at the open or later in the day, after their short ascent upward. Covering even a few days later would allow me to short-term trade even though I couldn't watch the tape during the day. Has anyone else use this news source in short-term trading? Pete

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