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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade
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To: Ken Wolff who wrote ()7/29/1998 1:52:00 PM
From: Billy Bob   of 2120
 
I have been a day trader for 10 years. I've kept my strategy very simple and conservative. My wire reveals large blocks of shares that have been executed. These blocks usually are the pressure on down stock. My experience in the pits has made me realize that sellers are known. Who is going to buy stock at 50 when the seller is willing to dump it at 48 1/2 for 100,00 or more shares. The conditions are usually this

UP MARKET- Dow above 20 and OTC above 5
Purchase the stock at the market
It does not work every time, but the pressure of the stock is usually gone and the stock has little downside. After I buy the stock I put market on close to sell it. This is also very easy to track by paper trading. After the large block trades write down what the offer is. The last print of the day is the market of close. I do about 10 trades each day with this method and always 1,000 share blocks. This is not necessary though.
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