LastShadow's Position Trading Message Board

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Strategies & Market Trends : LastShadow's Position Trading

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To: Nandu who wrote (8988)	2/22/1999 5:05:00 PM
From: Minos	Read Replies (3) of 43080

Nandu, Friend of mine trades futures as an independent. A week or so before the TSC article, he was telling me that this year he had noticed a simple trend that he was trading with great success. At about 3:20 if the NDX was up fairly strong and was holding...say around 25 or so, he would go long and end the day flat with market-on-close sell. More often, if the NDX was just floating around or showing no real conviction, he would short at 3:20 and again close the position at day's end. I've been watching (only watching) but the theory seemed to have some real merit during the choppy market these past several weeks. I was thinking of putting it a test using XLK (I'm assuming I can short) since I do not really want to get into trading futures. Funny, though, that TSC basically echoed the same thing. On another note, I am in the shadow camp and resisted going long today for the same two reasons -- light volume and lack of participation by MSFT. That probably means we've seen a bottom. good luck all, -Minos

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