Market Gems:Stocks w/Strong Earnings and High Tech. Rank Message Board

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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank

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To: Jenna who wrote (16359)	10/10/1998 10:07:00 PM
From: Jenna	Read Replies (1) of 120523

Daytraders can make more money on interday reversals and STILL SELL ON STRENGTH IN RALLIES. I still see two important trading periods during the day.. from 9:30-10:30 and from 3:00-4:00. The trend changes this week required more than usual attention to the tick and the bellwhethers, but they WERE PLAYABLE. On October 7th when everything was getting wrecked the 'defensive' plays were doing very well.. In the morning LGTO and VRTS were very good trades. Last week when the NASDAQ was horrible, the GOLDS, UTILITIES and select 'severely beaten down stocks' were offering some profitable trades. The point is that if you don't have the 'basket of opportunities' and watch lists that cover different sectors, you will miss opportunities. You can't rely on technical analysis alone either for trading. If you want to trade these markets you have to adjust your strategies. You have to adapt yourself to this changing market because it SURELY will adapt itself to your trading strategies. If you were always a short term trader and you still insist there are possible holds for 1 -2 week holds you won't survive in this market. This volatility will be with us quite a while because investors are not the same 'animals' they were 3 months ago. They are no longer rushing into the markets. They no longer buy on dips. They are fearful and selling into strength themselves Rallies in the morning fizzle for that reason. The market timing of these 'investors turned traders' might be askew but their fear spurs on more volatility which effect traders as well as investors. Exiting trades after 1 or 2 days might is still the only way to go now... You can trade on gap downs if you are in cash and can unemotionally wait for a reversal. It is still no guarantee you will succeed, but it is better than holding too long and trying to make a rational judgment call when your stock opened 3 points lower than yesterday's close...

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