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

To: TraderAlan who wrote (5664)	11/23/1999 5:31:00 PM
From: Steven Ivanyi	Respond to of 18137

Yesterday's trades on ATHM were great for me. Didn't mean to break your heart or anything. But I do know the feeling real well. I use support and resistance, cups and handles, triangles, etc. for my daytrading. I find moving averages, MACD, stochastics, etc. rarely work well for me. I love shorting a gap up open on no news. They usually work very well - I call them the one hour specials, because the low is usually by 10:30. If the gap is not beginning to be filled in a couple of bars I usually will cover and go long. I shorted ATHM this morning again at 58 3/8 on gap open. The stock just kept going higher. I was going to stop my losses and then glanced out all the charts of my favorite stocks and they were going down big time and then realized that this thing is going to tank too. It went to 59 3/4 and then it just collasped. I ended up making 3 1/4 points on it.