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To: Dale Baker who wrote (10503)	9/18/1999 7:30:00 AM
From: Dale Baker	Respond to of 118717

Daytrading Tips - since I started daytrading more often in mid-August, I have found one formula which succeeds about two-thirds of the time. If you are careful to limit losses this approach can be consistently profitable (I made money with it five weeks in a row, averaging ten trades per week). quote.yahoo.com VITR is a good example. Find the point where the stock topped out at 48 early in the day and pulled back. That intraday high became the "breakout point" where traders would jump in again in an upward move. I prefer to wait for new intraday highs instead of trying to guess bottoms (which many daytraders focus on). The second key concept is "channels", up and down. VITR had a steady upward channel until it topped out at 53. I happened to take profits in the mid-52's but a channel trader would definitely have bailed around 51 after the upward channel was broken. There were no more higher highs and higher lows at the point. VITR then went into a down channel until just before the close. Sometimes you buy false breakouts that don't last. In that case you have to be ready to sell at a small loss as soon as it's clear that the new up channel was broken, or it never really got started in the first place. Hope this is useful for some of you out there. The key is waiting for the breakout you want and not buying in early "hoping" your break will come.

To: Dale Baker who wrote (10503)	9/18/1999 8:48:00 AM
From: JSB	Read Replies (1) \| Respond to of 118717

Cheaper hobby than golf? LOL I was thinking the same thing about tax loss selling. Maybe a scan of stocks 50% plus off their highs and better than 50% institutal owned? Might make some appealing put plays, since we would only need to buy out to November.