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

To: Leland Charon who wrote (12185)	3/5/2001 8:15:23 PM
From: Paul Viapiano	Read Replies (1) \| Respond to of 18137

To all: Can anyone give me the figures for Friday March 2 for: Nasdaq new highs/lows Nasdaq advancing issues/declining issues Nasdaq total volume Thanks...

To: Leland Charon who wrote (12185)	3/6/2001 5:32:16 PM
From: TheStockStalker	Respond to of 18137

How do you handle the large influx of information that the new high/new low ticker generates right off the open? You mentioned that you often buy new highs within the first five minutes. Isn't the new high/low ticker going nuts with activity? Yes the morning high low tickers are very full of activity and it is hard to know what to do in the morning. Usually I have a bias and when I see the ratio of green to red confirming my bias on the ticker I start entering the positions. Usually a bit tepidly at first and as those begin working then a bit more aggressively. As I said before, before an index turns up it means that a majority of the stocks in that index have already made a move in that direction. That is why I tend to buy in a linear pattern as opposed to basing my entries on the indexes or the futures. But the real interesting things is that my streaming P/L is way faster than the futures or any index. Because I am already in the strong stocks on a strong day, I can see the markets starting to turn up again from a pullback well before it shows up on the futures simply by watching my P/L changes. The futures are only a leading indicator to the index they track but the individual stocks in the index that are strong on an up day (weak on a down day) are truly a leading indicator to even the futures if you can isolate them. Contrary to what people read it is the stocks that ultimately seek their price and the futures that follow. I do think that when the futures do start moving in a direction that it does help move the 2nd and 3rd tier stocks in the direction already established by the leaders and help improve overall market breadth. Today was a difficult day to buy for me to buy because the market opened so high. I did finally manage to get in about 25 positions long on reduced shares, but I was never very comfortable with them and covered them near the afternoon high (lucky). Last month I would have probably held them and got hosed, but I have learned lesson for now. PDT