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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime -- Ignore unavailable to you. Want to Upgrade?

To: Ed Pakstas who wrote (17542)	6/24/1999 12:16:00 AM
From: keith massey	Read Replies (2) \| Respond to of 62347

Chief and Ed... Great posts on crosses...you saved me some writing and covered most of the bases. Ed kind of covered this but I will add... In pennies, block trades can also indicate that insiders are selling blocks of their free trading stock, or exercising stock options to position brokers and promoters in order to take a private placement, financing the company in one transaction. The promoters get a huge chunk of "free trading" shares cheap, the company gets some money and the insiders get their shares back with the normal hold period. Ed mentioned "no momo", "no promo". I would agree but when a stock start to move I look back over the last year and look for crosses. Often the person receiving the shares is the one buying to start the run and the first one to sell off at the top of the run. I note the price the first cross was done at because the promoter is not in the game just to make 20-30%, they go for double, triples or more. If you follow these houses you can get a better feel for where a stock might go. In addition, if the stock starts to drop but the house that did the cross and started the run is not sell any but is buying it is likely this is just a bull flag (normal pullback) and the stock will take another run. For day trading my favorite sign is when a house sells the hell out of a stock to put through a massive crosses. In most cases I have found this normally is give the stock a short term bottom that you can use as extra safe stop level. You have to be very quick on the draw to buy the stock after the cross goes through. The thinking goes...why would the house sell the hell out of the stock to do a cross if the stock was going to drop to this level on its own that day? Chief already did a good job of explaining what these crosses might mean. Another thing I like to see is a drop in a stock first thing in the morning followed by a 30 minute to 1 hour basing period. If I see a bunch of crosses in this level I look for the first sign of strength and jump on board. In my experience the stock will often (75% of the time) go for a big run after this type of pattern. Comments? Best Regards KEITH