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To: Elroy who wrote (74877)	1/17/2008 10:43:27 AM
From: John Koligman	Read Replies (1) \| Respond to of 77400

If the trade goes against me by a few cents I'm out, so your premise about holding for dollars would be ridiculous in my case. Some traders use Fib retracements, up/down bars, and such to do this, you are right, I do it by using my years of watching day in, day out so that I have a very good idea of how stocks trade at the open and at various times of the day. Nothing works all of the time, and there are periods where I just stay out of the market for the most part (like the last few weeks). It works for me. At this level, fundamentals are meaningless for the most part, although I track them. It's all about momentum in very short time frames, and knowledge from watching this stuff from long periods of time. John PS - If you are very risk averse, one trade a week like the one I outlined will result in one doing very well. If you do this for a living, I'm not averse to one being OUT of the market for the vast majority of the time. That's the case with me... I realize all this flies in the face of those that say you have to be in to catch the big moves, but it's one way of consistently making money no matter what the market does. I agree that the odds are against most traders, but then buy and hold has burned lots of folks also. The 'it will come back' syndrome.

To: Elroy who wrote (74877)	1/17/2008 10:49:03 AM
From: John Koligman	Read Replies (1) \| Respond to of 77400

As far as 'scientific' is concerned, you yourself have posted about several companies over the years with what looked like great fundies that didn't seem to respond with commensurate stock price gains. Folks fall into value traps for years, so you can do all the homework you want and still get killed when holding issues.. John

To: Elroy who wrote (74877)	1/17/2008 10:51:31 AM
From: John Koligman	Respond to of 77400

One other thing, I will most likely tend to be less profitable than those who invest large amounts in issues like AAPL and sit on them for years. However, I will be consistently profitable day in day out... It's more work, but that's the way it goes...