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

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To: TFF who wrote (4254)	5/21/1998 8:06:00 PM
From: Wayners	Read Replies (2) of 12617

I have a day trading idea that looks pretty good. Stocks on a downtrend usually have higher opens than closes and stocks on an uptrend have lower opens than closes. If you make a plot in your favorite software like Windows on Wall Street of a 2 day moving average of the opens (color it green) and a 2 day moving average of the closes (color it red) you can see at a glance what the current trend is and what to do at the open. If red was over green yesterday, the trend is up. If green is over red the trend is down. The good thing about this strategy is you get tomorrow's green line right at the open. There it is. Lets say for instance that yesterday you had green over red (downtrend) and it opens at or above today's new green line (after entering today's open). Then it seems to me its a high percentage short play for the day. Just the opposite for long plays. Anybody else out there using a similar strategy. I see the red over green and green over red played out so often and consistently that it tells me that traders absolutely dominate this market. What does everybody think. I'm nuts right?

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