Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade -- Ignore unavailable to you. Want to Upgrade?

To: William W. Dwyer, Jr. who wrote (1988)	6/8/1999 11:29:00 PM
From: E. Davies	Read Replies (1) \| Respond to of 2120

You buy from the last person willing to sell, then the stock heads north. Not gonna happen very often Funny thing is that it happens often for me. Not that I get the "last" seller, but that I get executed at the bid. If you buy when a stock has just taken a sharp drop down to a support level you catch the market right when it is churning. Buyers are stepping in, but sellers are not gone yet either, so you have a pretty good shot at getting executed at the bid. After all the sellers are buying from someone! If it doesnt turn in a finite amount of time (usually about 15-30sec) I get out. If the market is still churning you might even be able to sell at ask and cover the commissions. Funny thing is this only worked for me with a discount broker. My "direct to market" broker didnt seem to fill as well buying at the bid. One time today I put a limit buy order at the bid and as soon as I hit "enter" the bid started rising. I still got filled! Don't have any idea why. Those are the traders who really want in. It a situation such as that, it's very unlikely you'll get filled at the bid. Heck, in times like that I have a hard time getting filled at the ask! I want to know how to find the momentum stocks early rather than after they have moved a lot. Ideas? Eric

To: William W. Dwyer, Jr. who wrote (1988)	6/8/1999 11:40:00 PM
From: Richard Estes	Read Replies (2) \| Respond to of 2120

I am not finding any of that to be true. The stocks I trade are volatile on NAZ and have an average volume of about 250,000 and I am buying them when they are in the the top 100 of trades per minute. I think MMs are matching trades. It might be some MM auto pliot thing.a bid buy comes on movers or on a pause. the ask sell comes on movers. if I have a pressing reason to get out, I will go at limit bid. I mention it, because I don't know answer as to how or why. I never tried it before, satisfied with splitting B/A. I really posted it to see if this was usual thing to others. After months of doing it, it is expected not getting the results is the exception. I am not a Nitendo player on the keyboard, just about 4-6 trades a day.