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Strategies & Market Trends : LastShadow's Position Trading
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To: Jay Lyons who wrote (2134)11/6/1998 9:19:00 AM
From: Jay Lyons  Read Replies (1) of 43080
 
Downgrade Strategy (5)

Symbol  Close     Open     Low       High
RL      23 7/8    19 1/16  18 3/4    20 1/4 
MIFGY   19        10 1/8   10 1/16   12 1/4
RD      49 13/16  48 1/16  47 7/8    48 11/16

BDT     9 15/16   8 3/8    7 5/16    7 11/16


1. Hard Gap down
2. No further drop
3. Large volume

Of the four stocks that I posted before the open yesterday, three were easy money. (It's getting harder to just watch them, but I'm trying to be a methodical guy) BDT opened and just kept dropping, so it wouldn't have been a buy, but even buying all four at the open with 5% stops would have paid off. The winners could have been sold at the close at a profit, although they were all higher at some point in the morning than their close.

Jay
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