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

To: Peter H. Hodge who wrote (901)	4/5/1998 12:44:00 PM
From: Ken Wolff	Read Replies (1) \| Respond to of 2120

Peter, The first uptick can be the bid or ask. You should be able to recognize buying (trades happening at the ask) and keep close stops in case the momentum changes. But a high percentage of momentum gainers have been going up from the first uptick nicely. Big gaps up can get profit taking and so the first uptick would be off the first bottom my target buy anyways. Buying the first uptick is a bit slower that trying to time the bottom and your enter price will usually be 2 spreads above the bottom.... Good Luck Ken www.mtrader.com