The Final Frontier - Online Remote Trading Message Board

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Strategies & Market Trends : The Final Frontier - Online Remote Trading

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To: TFF who wrote (4230)	5/21/1998 4:12:00 PM
From: TFF	Read Replies (2) of 12617

#DAYTRADERS Chatroom Tips - Don't Believe The Hype!: Okay you've identified a good story stock with good momentum and the room is as bullish as you've seen it. The stock moves up quickly with no top insight. Know What do you do? 1) Hold overnight for the gap up? 2) Blow it out at the close? 3) Blow it out once it has hit your original target? 4) Raise your stop and let it ride? 5) Sell half and let the rest ride? The thing to remember when Day Trading is that you believe in momentum - not hype! If you answered anything but number one you are probably on the right track. If you answered number one you better re-think why you are Day Trading. Holding overnight means that you feel confident in the hype and that you think that once traders view the news/fundamentals they will continue to buy the next day.Wrong! Once the market is closed there is an array of things that can go wrong with a hyped stock. Most are bad! If you absolutely MUST own the stock, blow it out at the close and buy it back at the open. 9 out of 10 times stocks will pull back at the open before they shoot higher anyways.

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