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

To: TraderAlan who wrote (935)	6/17/1999 9:35:00 PM
From: KM	Read Replies (1) \| Respond to of 18137

NITE gapped down like that too this morning, shook out a bunch of daytraders, then headed north and never looked back.

To: TraderAlan who wrote (935)	6/17/1999 9:38:00 PM
From: -	Respond to of 18137

Trader Alan, A masterful post, well said! That is one of my favorite trades, I discovered it the same way you did... regards, -Steve

To: TraderAlan who wrote (935)	6/17/1999 11:18:00 PM
From: Hands Off	Read Replies (1) \| Respond to of 18137

Alan, thanks for the post on gaps down at opening. It is something that interests me a lot. I am a real novice at investing but as a trained/experienced computer programmer I must look for patterns to debug problems in computer programs. I have tried to apply the same pattern identification skills to investing. One pattern I think I have observed is the following: If a stock opens lower then the previous days close and within the first 1/2 hour of trading rises above yesterdays close, then you can usually get a point of profit if you purchase when it hits yesterdays close. I have noticed this with "LU". Today was not great but somewhat demonstrated this. Yesterday close was 61.5. Today open was 61.25. Within first 1/2 hour it hit 61.5 and had a high at 62.125. Like I said, today was not a perfect example but it usually holds. Anyhow, I would like to back test this with other stocks when I have the time. You can look at the chart at bigcharts.com. Look forward to meeting you on the 26th. Marshall