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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: LastShadow who wrote (406)	9/16/1998 9:33:00 AM
From: TobaccoMan	Respond to of 43080

Last, Chart "compression" - What definition do you prefer for compression and what chart patterns (reversal, base, v's, etc.) and volume or TA characteristics do you look for or find more profitable after a compression. Thanks for any thoughts. Tobaccoman

To: LastShadow who wrote (406)	9/16/1998 4:46:00 PM
From: Judy	Read Replies (1) \| Respond to of 43080

Gap Strategy and IMNX FDA board approved Enbrel today after market close. IMNX should gap at market open tomorrow, stock did not trade today while the board was meeting. I'd would also expect some media coverage. Use of one of the gap strategies may be appropriate.

To: LastShadow who wrote (406)	9/17/1998 11:45:00 AM
From: Dave Shares	Read Replies (1) \| Respond to of 43080

Modified Gaps (Please allow me to beat a dead horse) I understand that we are dealing with general rules. You had stated that for a Modified Gap strategy, the stock has to open below its previous close and have a substantial volume increase. I'm looking at NSCP this morning (Sue, I held too). I am not saying it qualifies, because volume probably isn't significant enough, but for this example, let us please assume significant volume so I can get my question answered. Opens at 21 7/8 High (before 10 :30) of 22 5/8 75% of difference is 22 7/16 Now here is my question: If I look at 10:30, and NSCP is trading below 22 7/16, I know that I can try a strategy of setting the buy stop at 22 7/16. What is the strategy if NSCP is already trading above 22 7/16 at 10:30. Is it a buy at the 10:30 level ? I am only using NSCP as an example, I am basically curious as to what one does when a stock that has opened below its previous close, has substantial volume, and is trading above the 75% difference level between open and morning high as of 10:30. Thanks, and please excuse me for taking up so much time with this. David