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


To: wmwmw who wrote (288)1/17/1998 3:54:00 PM
From: Tai Jin  Read Replies (1) | Respond to of 2120
 
>Look at PWAV on 1/15/98...It opened at $12 3/4 ( which was $1 1/4 below previous close) then down to $11 1/2 then bounced up, making first bottom. According to your theory, it should be the day low and one should buy at $11 9/16.

I think the fact that it gapped down on the open should warn you that the stock is going down rather than up. So you should be looking to short the stock.

...tai