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

To: Leland Charon who wrote (1303)	6/23/1999 12:09:00 AM
From: OZ	Respond to of 18137

"The Pristine article that you posted on how to buy a gap opening is still valid today. I use that technique pretty much everyday. Gap plays are some of the best trades out there." TRUE, I think all of the PRISTINE plays are pretty much timeless. The reason for this is that they are based on the constants of GREED and FEAR and unless everyone on the market goes on Prozac, they will continue to work for some time. Another variation of the 30 minute rule they teach , is how to trade a stock that gaps down BEFORE the 30 minutes is up. This is not for the swing trades but rather a true day trade (minutes) The set-up goes like this: The day before, the stock should sold off and closed at its low for the day with lots of the downside occurring at the close. The next day the stock gaps up catching the shorts by surprise. The entry point is when the stock trades above its five minute high with a stop placed at its five minute low. The exit point is up to you, but remember that this is a microcosm of the swing trade 30 minute play and one should lower their targets accordingly. Good Luck, OZ