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Technology Stocks : METRICOM - Wireless Data Communications -- Ignore unavailable to you. Want to Upgrade?

To: mike cobble who wrote (2507)	11/9/2000 7:52:25 PM
From: John Curtis	Read Replies (1) \| Respond to of 3376

Mike: ...the price changes either direction on a whim without much pattern except that it usually trades up at open off the close, except today... Actually, you touched on but one aspect of an intraday pattern I've been playing successfully, today excepting. And it's a pattern that's been more or less in effect since the beginning of this remarkable straight line decline which commenced in September. That is, pop it straight up for 3/4rds of a point or so, then execute a bear trap with ~150/200K shares hammering the bid on every uptick until you've driven it down by approximately a $1 to $1.25. This all occurs in the first hour. Then ziggy it around sideways, a little bit up, a little bit down, and then again at ~1:30pm hammer the bid again with another large volume set. Then stabilize it until the final 30 minutes of trading, where you then yank it down and then let it float upwards from that yank-down point until close. The following morning you start all over with the pop. Now over-all the intraday characteristics vary a little from day to day, but generally speaking this is the pattern. One which has kept MCOM nailed as if a downhill skier to the general decline line. So....given the above....you buy a block in the last 30 minutes, or at the 1:30pm large selling block bid undercut, and sell it ~15 minutes after market opens the following day. You then wait ~10 minutes or so to catch the beginnings of the bear trap and then join in and short a block. Around 1:30pm you cover the short and go long or wait until the final half hour yank down to establish your long position. I've done this in a consistent fashion, off and on, since $40, but only with concentrated focus since ~$20. I've made some nice intraday coinage. But, overall this begs the obvious questions doesn't it? After all....given the essential "random" nature of market activity one shouldn't be able to consistently predict the same behavior over, and over, and over again. HEH! 'Course...today was different. That is, today the yank started from market open, and after the yank down it waffled around sideways for the remainder of the day. This could signal the pattern is about to break and final processes are about to be engaged. But one day cannot be interpreted as the commencement of "end game." I need to see how the next few days stack up. John~