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Strategies & Market Trends : From the Trading Desk -- Ignore unavailable to you. Want to Upgrade?

To: steve goldman who wrote (1806)	11/29/1997 11:47:00 AM
From: Harry Ehrlich	Respond to of 4969

Steve, I also agree with your approach towards managing a portfolio. I do not trade my portfolio exclusively. Approximately 43% of my portfolio is in mutual funds, the balance in my brokerage accounts. The brokerage accounts are 65% in cash at this time. 35% of the brokerage account is "invested" in long term holds, which are subject to some position play and profit taking (I think I'm a trader at heart). The other 65% is used for position and day trading without margin costs. When position trades are at a high, I will go into margin for day trades. I have worked all my life as an Industrial Engineer. I believe that anything is possible with the right education, methodology and discipline. This is why I firmly believe that a day trader can do very well. I also believe that most people are not cut out for day trading. Talk soon, Harry

To: steve goldman who wrote (1806)	11/29/1997 1:50:00 PM
From: Carl H. Gotsch	Respond to of 4969

Steve, >>For most, I hope, it is just a great way to get an excellent, MUST HAVE education in the financial markets, that will 1) help you for the rest of your lives in managing your cash and your family's assets but 2) will lead to opportunities elsewhere of more substance<< Your comments in the above and other posts have been very enlightening. However, I suspect that a number of those enjoying your thread would say, with regard to doing more "substantive" things--been there, done that. My progression has been from mutual funds, to stocks, to an interest in trading. This has coincided with my retirement and the time that I now have to embark on what is proving to be an exciting learning experience. I thought I knew, albeit vaguely, what went on in the financial markets. Wrong! But putting my toe in the water with some hands-on trades, getting burned, having to delve into the huge literature I have discovered about trading, finding SI, have all served to fill what might otherwise have been a bit of a void. I am now about 3/4 of the way through the thread and have come to appreciate greatly the time you and others are devoting to it. Many thanks. --Carl

To: steve goldman who wrote (1806)	11/29/1997 2:58:00 PM
From: ojai	Read Replies (2) \| Respond to of 4969

Steve- I have a question I thought you might have an answer for. I was trading a stock the other day, and I was watching the time and sales. A lot of 5 and 10 share trades were going through, between the 500 and 1000, 2000 share trades. What is the significance of this? I assume that some were closing out odd lots, but there would be a string of them, some at the ask, some at bid, and some in between. Is this the MM's bumping the price around(this was NASDAQ)? I haven't been monitoring time and sales much until now, and I'm wondering if there is a way to interpret this info to my advantage. -By the way, thanks for the informative thread. -Tim

To: steve goldman who wrote (1806)	11/29/1997 4:57:00 PM
From: Paul Kim	Read Replies (1) \| Respond to of 4969

Thanks for your very informative thread here. I've learned alot about trading thru your thread and I think it's one of the best at SI. I have a question about shorting stocks. I've often seen a stock open at $2+ above its previous close on some kind of news and then head straight down from there. Due to the uptick rule on nasdaq stocks, what kind of strategy can you employee to capture that premium at the opening. With the market as it has been over the last few weeks, shorting at the open seems to have been a good strategy...though I know it can change on a dime. Also, do you have any daytrading strategy for playing shorts? Thanks for your time in advance.