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To: John Vsetula who wrote (68)	7/25/1998 3:32:00 PM
From: Phil(bullrider)	Respond to of 253

John, IMHO, if you have convinced yourself that the stock in a company is a good investment, it would have to gap up a lot for me not to purchase it. Two recent incidents come to mind. I have a friend that always insists on picking a number under where an issue is trading, and enters an order where he would like to buy the stock. On two separate occasions, he has missed stocks by 1/16 of a point. One was HDI, the other was DG. Both ran away from him. I suggested that if he wanted the stock, and was convinced that it was a good investment, even a point or two would not matter in the long haul. Only you can determine whether a company fits your investment style, and only you can determine the price you are willing to pay. Always remember, when it comes to stocks, "That which goes up, does not always come down". Good luck, and have fun, Phil

To: John Vsetula who wrote (68)	7/25/1998 3:45:00 PM
From: Mama Bear	Read Replies (1) \| Respond to of 253

John, a lot of folks use the gap rule which is simply that you buy the stock if it trades above the high of the first 15, 30, 45, or 60 minute period during the remaining session. The choice of time frames is done from your personal risk management perspective. The longer the time frame, the better the odds that buying above the high is "true" buying strength, and will be sustained. I personally use the 30 minute rule. I place a buy stop at 1/8 above the high of the first 30 minutes, and if it executes, a stop 1/8 below the days low. Exit strategies vary. If I don't know the company I usually look for a 5 to 10% gain. I always close the trade between 3 and 3:30 PM. It is a good high percentage trade. I usually use mental rather than mechanical stops. That being said, I'm not sure this is the appropriate thread to be discussing short term trading strategies. I was under the impression this was geared more toward long term plays, but will defer to the thread moderators on this question. Barb