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Microcap & Penny Stocks : Bid.com International (BIDS) -- Ignore unavailable to you. Want to Upgrade?

To: AL who wrote (1455)	11/23/1998 9:29:00 PM
From: Kevin Hamlin	Read Replies (4) \| Respond to of 37507

I posted these comments over on the Canadian Daytrading thread to highlight the thoughts behind buying and/or selling at any given moment. Since the example I used was BII, which I bought back in today, I thought I would also post the reasons here. BII A BUY: 1) "The Trading Was Changing": I pay pretty close attention to the actual trades going through...who is buying and selling, who is controlling the stock. Clearly Yorkton is driving the bus at this point. In the past week they have sold over 3 million shares. (Can you imagine the share price if they weren't doing all that selling?) My thinking is that when Yorkton starts to dry up, the stock will run. That appeared to start to happen this afternoon. Yorkton started disappearing (to be sure, they also reappeared...but not as steadily in the market as they have been) In the broader sense too, Yorkton looks to be drying up. On Wednesday and Thursday last week, they sold over 1,700,000 shares. Friday and Monday...only 480,000 shares. -Still a lot...but not as much. 2) "The Intraday Pattern Was Changing": Stocks take on trading personalities...even if they're only short lived. BII pattern over the past few days was trading up in the morning...drift lower and then having a couple of hard hits down. That changed today. The hard hits down didn't happen. I took it as an indication that the consolidation of the past few days was taking hold. 3) "There was a strong run at in the last 20 minutes of the day." This would have been one of two things...or both. It could have been that people shorting the stock were throwing in the towel. This is good. It could also be buyers coming in, realizing that the selling was over. This is also good. In particular, I like strong runs like that at the end of the day. It sets up the next day nicely, especially when it closes near its high, which it did. If it is an indication of the consolidation taking hold, the run can last a couple of days. 4) "The Chart Said So": Everyone has their ways and means of timing their trades. I've come to rely pretty heavily on some intraday charting that I continue to hone. It keeps me level and forces me to trade with prudence. My charts are right far far more often than my intuition or emotions are. 5) "The Internet Stock Mania": Right or wrong, Internet stocks are going crazy. Relatively speaking BII is very cheap compared to some American cousins. When I see things like BII's cousin EBAY up $47.00 again today...almost touching $200.00 U.S., I assume that this "momentum" will spill over to other plays like BII. BII should gap and run. :)) Kevin