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

To: steve goldman who wrote (1172)	6/21/1998 7:33:00 PM
From: Street Walker	Respond to of 2120

You echo my thoughts clearly. I do not advocate taking a position home. However, once in a great great while I do, recognizing the risks as you mentioned. This is why I brought up the discussion - how to recognize an outstanding story stock overnight hold. To sell at the end of the day and buy back in the morning (when you should actually be shorting) is also risky on story stocks. The news breaking story has to be convincing enough - GERN, KTEL, PFE-viagra, MARG. The hard part is determining how significant the news is. The very next day after the stories broke on the above stocks that brought them to daytrader recognition, phenominal returns were made on an overnight hold. A lot of people who claim themselves daytraders usually don't live up to the definition. For me a daytrader is one who goes home 100% cash. Many "traders" I've watched and talked to go home with a portfolio and sit in front of a computer monitoring their dogs for days on end hoping for them to go up. Newbies to this thread, re-read Steve's last post. Lots of wisdom there. S.W.