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

To: shasta23 who wrote (5457)	11/15/1999 8:03:00 PM
From: TraderAlan	Read Replies (1) \| Respond to of 18137

Stefan, I've found Tech Data to be a pain to day trade as its moves are so erratic. A similar stock I have problems with is BGEN. It goes up or down 2 points for no other reason than to screw you. Sounds like a classic trend relativity error. There's nothing wrong with your analysis of this stock as a short sale in the daily time frame. But you shorted it with an intraday stop loss that really made no sense. You didn't say exactly what you felt your holding period was going to be. Were you looking for a drop back below 20? If that were your intent, you're right you should have waited for the rollover OR given your stop a lot more wiggle room. It's really a low risk short for a position trader, A move 1-2 points above here negates the short sale (the downtrend line is broken on the arithmetic scale chart). I show my stoch and RSI setting all still rising plus support from the 50 day EMA. It's in never-never land though: the space where it's above the 50 but below the 200-day. A great swing locale if you can stand it. BVSN is volatile but never thought of MFNX that way. Set that one aside tonight looking for a quick test of the double top at 47-48. Alan