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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: dennis michael patterson who wrote (21799)	7/3/1999 10:15:00 PM
From: Robert Graham	Read Replies (1) \| Respond to of 42787

People may have been leaving this stock, but that would of been difficult to tell on the market rallies that it has participated in and actually lead more recently. Let me give you a rundown on some of the gains in this stock over last month: +14 3/4 on 6/7 and +13 1/4 on 6/16, and lets not forget the +10 1/4 on 6/30. I am not even including the entire trading range here on these days. This would be the profit for entire day holds with no fancy trading in and out that some live to do. I do not think you could find a similar stock that did much better on those days, particularly on 6/7 and 6/16. This together with YHOO would of made a trader allot of money in very short time. So I guess those who have previously left EBAY on bad news returned on those days, and rightly so! I suspect you missed the extraordinary advances in this stock. However, it is good to see you in this leg of the rally. But no one can argue with the function it has served in the market as a confirming indicator, and the price gains it generated during the market rally. This is now history. So let me correct the wording of a statement I made in the previous post. It pays to separate the daily price action one sees over a period of time with the intraday price action of the stock. IMO this is very essential for the day trader. As soon as I saw evidence that the market was going to take off, I immediately looked to EBAY. This was a "no brainer". I always first look to the old leadership when a good rally is about to begin. EBAY and YHOO did not disappoint. The second leg of the market rally itself was also a very simple call. When the market rallied before the FOMC meeting, this was a loud siren call in the ear after a pattern of similar market indications that a long anticipated rally was going to happen shortly in the market. Add to this how the market was knocked down to support by the long bond and you will find yourself sitting on a powder keg. I have been getting better at looking for these market signals some call "tells" in the market. The market speaks as long as the trader is willing to listen. As far as trading, I am currently refining and testing an old system that I used in the past for trading options. The system was profitable but its hit rate was low. My execution of the trade made it profitable. But now I also know much more than I did back then about the market. And I have a better idea on how to improve this system for a higher hit rate. Cooper in one of his books gave me an idea. DiNapoli gave me another idea. I will have no problem posting my trades. But I want to remind you that my objective is to make money, not to see who has the bigger d*ck. ;) Happy Trading! Bob Graham