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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Ken Adams who wrote (322)	6/8/1999 6:59:00 PM
From: TraderAlan	Read Replies (1) \| Respond to of 18137

Ken, <Looks like a nimble trader could have captured a full point inside of 10 minutes, or so. Is that the type of trades you look for?> Bought at 32 11/16, sold at 33 5/8 using a 1-min chart to pick my exit. I didn't look for it, it found me. Look at the mechanics of this event. It is a common occurrence after big breakout days and I've traded the same scenario many times. The markets provide dozens of quirky little tendencies that can yield profitable trades. <how would you know about it unless you stare at the chart all day long> This is an interesting comment. This trade required little effort or preparation. Of course you have to watch the charts but it's more important to know where to look in the first place. When price wiggles or waggles a certain way, I can smell an opportunity. Many don't work out. I already knew CIEN's 5-min chart and recent action in my head. Yesterday was a major breakout day. That was the first clue <g>. Alan