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To: Ira Player who wrote (2820)2/3/1998 6:49:00 PM
From: Eric P  Respond to of 12617
 
Ira:

I strongly agree with your co-worker. I believe that most obvious inefficiencies in the market have been played out and are no longer profitable for daytrading. There is opportunity, I believe, in looking for much more infrequent patterns in a larger universe of stocks. Unfortunately, it can be extremely difficult (and boring) to sit in front of the screen for hour on end waiting for the perfect pattern while scanning many different stocks.

This problem plays perfectly into the strengths of a computerized mechanical system. The challenge is to develop and validate a profitable system. At this point, it is relatively easy to automate the system for real time trading.

Happy Trading,
-Eric