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

To: Cosmo Kramer who wrote (632)	3/4/1998 1:00:00 PM
From: Ken Wolff	Read Replies (1) \| Respond to of 2120

Hi Mark, Any thought's on trading stocks based on patterns? For example: RMBS has been bouncing between the low 40's to the mid to high 40's for quite a while. I see this trend with many other stocks as well. Is this a valid technique? I have not followed RMBS closely. What sort of patterns are you seeing? Do these patterns repeat daily or are they longer term? I focus on patterns that have a high probability of repeating day after day. This is the only way for daytraders to make money consistently. I also find that patterns tend to change as the market changes. A good daytrader must adapt quickly. I have, in the past, played the same stock every day for months, like when IOM was IOMG a few years ago...really made good money every day. It was very predictable. Ken www.mtrader.com