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

To: KM who wrote (3631)	9/6/1999 12:35:00 PM
From: TraderAlan	Read Replies (2) \| Respond to of 18137

KM, I certainly don't mind shorting stocks that have been up strongly for the day and pat myself on the back for finally getting the cajones to do it when the opportunity calls for it. But, as you note, you need to first find the technical breakdown in your time frame of interest and have some other stuff going for you, like time of day, index or tick breakdowns, etc. Even then, these positions require being more defensive than stocks that are in major intraday downtrends. They attract buyers just because the net chg is green on the screen instead of red. And everyone and their TA guru expects strong stocks to try a run in the last 60 minutes even if it's been crapping out for a few hours. True trend following day shorters are better served just finding the % loss stocks and going with the tape. Now I have taken several short suicide positions over the years and made money on all of them. In each case, the breakout was going vertical into a major multiyear top. I was off by several points each time but went in the money within a couple of hours. Back then I was willing to hold a few days. Alan