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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Darth Trader who wrote (5284)	2/11/1998 1:32:00 PM
From: LastShadow	Read Replies (1) \| Respond to of 120523

Responses: Darth - yes, if I feel it could gap I would do that. Normally, though, I am looking to trade stocks that are hangning on the bid/ask spread ofr half adozen ticks before moving up - not hard to do on say CPQ or AMAT for example, and in that case its just a buy stop. For things like ASND on volatile swings, or RMBS, the buy stop limit is generally set at 2 ticks above for the stop and 4-8 ticks above for the limit. That is dependent on the actual stock, of course, but in general one should be able to tell what the range is given a look at the 5 minute chart. If you entered the stop and limit at the same price, its really unlikely that you would get filled regularly as by the time the stop is reached they start asking for a tick more. If they do fill it, then it is probably because that price level is weak - and not a good sign. IIT - I still haven't patterned this one yet. Yesterday it hung level for so long it looked like it might gap open. Down gap wasn't the one I was hoping for, and the continued drift down to the current price looks liike its basing. If end of day is looking stronger (volume and # trades) I will add to my present position. lastshadow