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Non-Tech : MB TRADING -- Ignore unavailable to you. Want to Upgrade?

To: Gary Korn who wrote (1057)	9/7/1998 11:44:00 AM
From: William W. Dwyer, Jr.	Read Replies (2) \| Respond to of 7382

Gary, I trade in Ken Wolff's mIRC chatroom. He has two ways of playing trades like that but, usually, when stocks gap up he watches it climb a bit at the open, then may short it for a pullback, or wait for the first pullback after the open, then go long. He plays oscillations mostly during first hour or two. If you read the early market signals for direction and select an appropriate stock to use as an indicator, use tight stops, you can usually do quite well on these type play. Key thing, when the stock gaps up a lot, you don't buy at the open, you wait for selling (profit-taking) to occur causing a small pullback, then you buy for the next run-up which is more predictable and safe. Bill

To: Gary Korn who wrote (1057)	9/7/1998 12:26:00 PM
From: TraderAlan	Read Replies (2) \| Respond to of 7382

Gary, 79 1/4 to 81 1/4 is a key swing area for INTC. 79 1/4 is it's 200 day MA and 81 1/4 the 50 day. Also INTC (and most big stocks) play off of whole number support/resistance. If it opens above the 200 day, watch to see how that support price holds. Same with 80. Stocks can rarely climb successfully both the 200 day and 50 day in one bar. On trend days, INTC also loves a short, quick selloff after a gap open followed by taking out the gap high. If the trend is strong enough, the thrusts will be supported by a real short MA on a 5-min chart, like a 5 or 6 bar. The post-Greenspan market price action this week suggests a fairly typical 1-2-3 counter-trend move off the low. Often the "3" thrust will be equal in size to the "1". This is all still a bear move with all indices below their 200 day MAs. Alan