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

To: Ken Wolff who wrote (467)	2/7/1998 4:05:00 PM
From: lizard lick	Read Replies (2) \| Respond to of 2120

good advice, what is your opinion of going short on bbtk-broadband technologies. stock is up almost 4 points in two trading days on dismal quarterly report salvaged by a questionable lucent restructuring agreement. do you see this in line with your news story criteria and now in the sector of shorting a huge percentage increase probably due in part to cnbc news blurp some short covering? thanks in advance

To: Ken Wolff who wrote (467)	2/7/1998 10:09:00 PM
From: Dominick	Respond to of 2120

Thanks for the lesson Ken Dominick

To: Ken Wolff who wrote (467)	2/8/1998 9:22:00 AM
From: Melissa McAuliffe	Read Replies (3) \| Respond to of 2120

I am hoping that someone can answer a question several questions for me. I am very new to this and therefore I am being very very cautious. My goal right now is to learn all I can and more importantly not to lose money. I find that the situation is more real for me if I can actually doing a real trade vs. a paper trade. So I have cautiously been doing one trade each day. I may be exiting too soon but I will get better at this with more experience (I hope<g>). However, I have implemented a mindset that once my stock goes up, I view the profit as mine and don't care anymore what I paid for it with respect to making my decision. So far this seems to be working. Afterwards I go back and try to review what happend and figure out what I could have done differently. Here are my two questions: 1) Is it a common practice that if you trade the same stock twice (or more) in a day that you only get charged one commission. This is what is happening and it was actually a surprise when I found this out since it means you can potentially try a second trade on the same stock without worrying about a commission loss. Is this the industry standard? 2) What is a good weekly profit? I know this probably depends on nummerous factors. Yesterday I reviewed everything I did last week in detail. I have designated $15,000 to this venture. Right now I will only buy 300 or 400 shares depending on the price and I can only do one trade at a time since I have to watch it very carefully. So at the end of the week I calculated my profit in points vs. $ since I am not buying the same # of shares each time. Also, last week was a good market week. If I made 3 3/4 points is that poor, fair, good, etc? In otherwords what should I expect? It seemed good to me but wonder if someone with more experience could comment. Also, I couldn't do this on Tuesday because I just didn't have the right mindset and felt that I would probably lose money if I did so this was actually only four days. Actually I found that taking Tuesday off probably made the rest of the week better and would highly recommend doing this instead of trying to hand in there on a day where you just don't feel right. Melissa