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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade -- Ignore unavailable to you. Want to Upgrade?

To: Joe King who wrote (79)	1/8/1998 12:43:00 AM
From: Ken Wolff	Respond to of 2120

Hi Joe, What signs do you look for when a stock is nearing a top? I usually look for the PERCENTAGE up on the day on a stock. I also take into account the pattern type: dumper, gainer, or a simple oscillation. Generally, I consider the potential with the momentum (usually News) and how high the stock is up at the time. I watch the bid and ask price changes as the stock upticks. When I see a PAUSE in the rythm of the upticking bid and ask I will note the former considerations and watch for a trade occurring in BETWEEN the bid and ask and then a bit of selling. Those factors will usually tip me off to a price direction change. Ken mtrader.com