Teletek: Big Earnings About To Be Posted Message Board

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Microcap & Penny Stocks : Teletek: Big Earnings About To Be Posted

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To: Tony Harper who wrote (782)	3/29/1996 5:22:00 PM
From: Lucas Hsu	of 1014

Tony, The most important tool to have is of course access to real time quote/chart service. I use Telescan...kinda expensive but it gives me lots of helpful infos. Also a good discount broker is important. I use Olde...since if I trade over 1000 shares I don't have to pay any commisions. I am not a pure day trader...I only day trade stocks that are fundamentally attractive. For instance, I am currently trading TLTK, APLX and IOMG. I usually hold half my position in long position and use the other half to play the peaks and valleys. This way I wouldn't be afraid of being left out of any upside move but allows me to play the volatility. TLTK has been a very good stock to day trade recently. The key to watch for here is the VOLUME. Huge VOLUME always preceed price reversal...for instance if you go back and look at Wednesday's action you will notice that the VOLUME picked up just before TLTK turn at ~5 3/4. I usually wait a little to confirm that momemtum is up before I dive in...(I picked up a block at 6 1/32)...Most day trader will absolutely close out their position before the market close but since the stock was trading very close to the day high I decided to risk it and hang on to it (lucky for me!). In fact the next morning I bought another block at the open....then close out half my position at the end of the day for a nice little profit. I am still long on TLTK just waiting for the next volatile day --- volatility is a day trader's best friend. I am keeping things as simple as I can here...hope you get the general idea. Watch for jump in VOLUME, study the TREND...follow the TREND. Oh, and if you happen to read the trend wrong (which will happen not infrequently) you picked up more shares of a great stock at the decent price. So a WIN-WIN situation... Good luck trading, Lucas

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