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

To: TraderRick who wrote (458)	2/6/1998 5:40:00 PM
From: mike pelino	Read Replies (1) \| Respond to of 2120

TR: I keep CNBC on throughout the trading day. If during squawk box Kernin and Haynes go on and on about a certain news item, this is a good start. Then throughout the morning the news will get repeated a few times during the regular updates. So by now the company has been drilled into my head. Then comes the surprise announcement that the CEO of this company will be interviewed during the next hours segment. Now I start watching the stock. Usually there will be several more announcement before the actual interview and this is usually when things start happening. I will buy it long when it starts moving and will sell short when the buying stops. In the case of medtronic I heard the announcement 1/2 hour before, but the buying didn't start till about 15 min before. The stock moved from 53 7/16 to 54 before and 54 to 54 3/4 during the interview. After the interview seller came in and sold it off to 53 7/8. Geron the announcement was about 15 min before, the stock moved from 13 7/8 to 14 3/4. When the interview started the selling started almost at the same time and dropped it to 14 before the interview was over. I look at the level the stock is at before any word of an interview and use percentages to decide on target prices. As always protect your capital. These setups don't happen everyday but when they do it is very predictable. Remember CEO's only like to be interviewed if they have something good to say. CNBC is a very powerful force. Today just reporting on oxhp the stock would pop. Mike