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Strategies & Market Trends : DAYTRADING/SWINGTRADING STOCKS with INTRADAY INVESTMENTS -- Ignore unavailable to you. Want to Upgrade?

To: Dave Gore who wrote (73)5/21/2001 1:20:20 PM
From: -  Respond to of 565
 
Yes, we moved into a sideways trading range there, roughly 2015x2035 in the Naz futures... we took profits, cut our losers short and are currently flat with 6 points in the bank net (never risking more than a point). The market is testing/trying to break out of the top of the trading range & if it does so convincingly, we will probably go back in for more. The Nasdaq is up almost 90 points on the day, so you have to be careful.

I was telling the room, we are scalping today because you can't "expect" a solid trend day in this market environment. However, if the market starts trending we'll give things more room and let them run. For the time being, the cardinal rule is to STAY NIMBLE and PROTECT YOUR CAPITAL. That's what we are doing.

-Steve



To: Dave Gore who wrote (73)5/21/2001 3:30:38 PM
From: Dave Gore  Respond to of 565
 
Huge buy blocks in GLW, also some in little ADCT which has had strong positive money flow all day but held back.

I want to watch Fund Buying near the close. The Fund Mgrs. have to be getting really itchy here with all that catch. There's heck to pay if they miss a 10-20% rally in techs after their crappy performance in the last year.


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