Position Trading in Canada Message Board

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Gold/Mining/Energy : Position Trading in Canada

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To: Essam Hamza who wrote (919)	4/13/1999 8:27:00 PM
From: Ward Nicholson	Read Replies (4) of 2259

Essam: Ward have you ever played US stocks for momentum? I used to trade only CDN stocks but found the lack of volatility post-Bre-X a big turnoff. Now I almost exclusively trade Nasdaq stocks and am finding it very profitable and much more exciting. I follow the US market, but I've never traded it. While the US market may dwarf ours (and be more volatile), I'm quite content to find and trade 10% swings on the TSE (long and short). There are plenty of them out there. Perhaps the word momentum is automatically taken to mean large swings in shareprice. I don't see it that way at all. For example, if I am able to increase my trading capital by a deceptively small 1% per week, I'll have a 50% return on a yearly basis. You don't need large shareprice swings to do that. The US market has seen 50% moves in plenty of stocks on a weekly basis, which is attracting more beginners by the day. I actually find that alarming. It reminds me of the days just before BXM collapsed. WN

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