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

To: KymarFye who wrote (204)	6/6/2001 1:39:38 AM
From: OZ	Read Replies (1) \| Respond to of 565

I suppose he could trade the QQQs and possibly achieve a similar effect, and I've also suggested that he consider trading E-Minis or some other vehicle, Well I do not consider 3 to 5 stocks a basket but I do get the idea of what you are saying. I too load up on many (8-80) positions when I trade equities (right now I do futures) and I do think there is an advantage to trading the stocks over the index. The idea is that on a long day you only buy and keep the ones that are going up and close the losers quickly. This way you are not owning the losers too as you would be if you merely bought the Q's. Before the Q's turn up on your intrady chart it means that the majority of the stock in it have already made the turn up and are now pulling up the slower RS ones too. The idea is to get into them ahead of time on their own merits. That way you will only be in the stronger ones and not have any ownership in the weaker ones and this way you will outperform the index. I once watched a man make a million dollars a week for 16 weeks doing this. He then went on to flat the rest of the year since he was not as comfy on holding the shorts as he was the longs. Trading the Q's instead of doing what your friend is doing would not help but hurt his bottom line. Besides, did you not say he has been doing great on a daily basis? OZ