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

To: Eric P who wrote (1957)	7/18/1999 5:48:00 PM
From: Richard Estes	Read Replies (4) \| Respond to of 18137

IFLO is a low volume, slow moving stock to the average Daytrader. Its average volume of 139,500 over last 13 weeks is low for a low priced stock. The daily range is very shallow. It is the type stock you buy some shares to wait on. I could visulize how it might return to the June high of five,but an equally good case can be made of it going to 2.50 if it breaks 4.00. I am not against low priced stocks, they have great potential for profits. But it would seem that an analysis of a better candidate for daytrading is more appropriate given the topic. And One that directs itself to the day timeframe. In the last 15 minutes, it fell 8.6 % or 3/8 of a point unless there is a change in that at open it might go to 3.56 fairly easily on monday. on a five min chart, I have it in a down wave 3 with fib projections for 3 7/8 then 3 9/16. Who knows? Once you let stocks picks in, does it make any difference How they were chosen or if reasons TA/FA? Who is hyping and who is not? From this, I might pose some questions for the topic: Should a daytrader focus mainly on intraday charts? What is a good daily range on a stock for daytrading? What is acceptable volume? What filters can be scanned to build a stable of stocks to daytrade? What Price range produces best returns?