+Jenna (11718 )
From: +jaylyons
Monday, Jul 20 1998 11:34AM ET
Reply # of 11724
Wanted to share an observation with the thread.
DELL is one of my "regular" trading stocks, I watch it everyday and I've become pretty
familiar with how it moves, which is why I posted here when it broke it's high of 98 1/4
on 7/9.
Since then, the stock as traded in a very regular pattern...gap at open with a sell off
either immediatly or within 10-15 minutes, then an end to the sell off with the previous
close taken out by the day's end.
Buying when the sell off reverses and then selling at the market the next morning has
been very profitable. The only day this didn't work was last Friday, when there was no
sell off and I reentered higher than my morning sell. Watching the bid can be a gut
clencher, but on those days that I let myself get shaken out, I ended up buying higher, so
now I'm riding them out.
Needless to say, this pattern could dissapear by the time I post this, but it's certainly
worth keeping an eye on, at least through earnings.
Jay |
