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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade
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To: Ken Wolff who wrote ()8/10/1998 10:24:00 AM
From: Billy Bob   of 2120
 
I use a simple strategy that has been very effective. The market conditions must be the following. OTC up above 5 and the New York above 15. I look for stocks that are down in price at lease 1/2 point that is trading over 150,000 shares. I go into these stocks when a large block over 100,000 shares trade. Usually this is a fund or an institution that is selling a large position and is the pressure on the stock. I have seen it many times before in the pits. Everyone knows the sellers and is not going to take that stock until they are convinced it is the lowest price. When the large block trades, the pressure is off and the stock will rebound quickly. On an average day I do about 5 trades per day.
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