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Strategies & Market Trends : The Final Frontier - Online Remote Trading -- Ignore unavailable to you. Want to Upgrade?

To: jaytee who wrote (1257)	11/29/1997 3:32:00 PM
From: Richard Estes	Read Replies (1) \| Respond to of 12617

The filtering process for my database is more flexible. price, RS, EPS, float provides about 2000-2500. My suggestions were for 1-5 day trade. While the short term trade has made sense since August in this market, It is hard to make money on 1-2% moves vs. a position trade which were more available before the chage that I have seen. For short trades, I am looking at Price contraction or expansion. Contraction of price and volume tells you a move is coming, up or down and may be a longer trade than expansion. Expansion of price and volume usually denotes near term correction. I don't mind looking at alot of charts. I use Advanced GET to find support and resistance and predict possible paths that a stock might take and the timing present. E-wave, Gann, fibonacci offer me a predictive mode. I use CCI(13) to measure overbought/oversold with a 200 and -150 triggers. Where as position trading allows the use of an indicator driven system, the short term trade is based on the quick-short moves and does not lend itself to entry and exit determined by indicators. Most don't have a exit point as they "daytrade". The end of day sell has been picked up from futures trading and has been tranferred to stocks. I see it as counterproductive. The lack of back testing on Daytrades makes it difficult to confirm tactics. I have never seen it advocated for stocks except on SI. Once you have volatile stocks with float<30-50m and high/low RS, you establish support and resistance, measure contraction or expansion and hope for the best.