LastShadow's Position Trading Message Board

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Strategies & Market Trends : LastShadow's Position Trading

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To: James Strauss who wrote (168)	9/2/1998 9:39:00 PM
From: LastShadow	Read Replies (3) of 43080

Position Trades These aren't terribly exciting stocks, but as long as an entry signal is provided tomorrow morning (upticks after half a dozen buys and preferably improving bids) I will enter for position holds. If they gap open, either up or down, see gap comments below:: SYMBOL CLOSE CHANGE CHANGE % ADVH 2.25 0.187 9.09% ZOOM 3.937 0.187 5.00% CA 31.25 1.125 3.73% FGII 11.187 0.375 3.47% The following only met 75% of the requisite TA indicators I use, but the net showed up both as buys (the ones above met both criteria). SMMT 7.0625 close (vol vs ave = 442%) PQT 1.125 close (worth watching as it tends to rise fast I would note that there are a lot of great day trades out there for people using even delayed quotes. Pick stocks that have large average volumes, and do NOT evidence a precipitous fall over the last five days. Compare its chart with SPY and see if it follows the intraday swing and leads or follows it. The reason for doing this even if it follows it is that it prevents one from exiting too early or too late if you only watch the bought ticker. Play the Gap strategy. If it gaps at open (opens above yesterdays high), then revisit it around 10:15-10:30 and place a buy at the morning's high and a short at the mornings low (although I don't recommend shorting if you aren't practiced at it). If it just gaps above yesterday's close (but not above the previous high), set the buy stop at 3/4ths of the distance between the open and morning high - this one is a little trickier and requires more frequent attention, but still is profitable, especially for stocks having NO morning selloff dip after the gap) - but generally I would exit before close on these. lastshadow

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