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

To: Thomas Sterner who wrote (6301)1/13/1999 4:20:00 PM
From: LastShadow  Read Replies (1) | Respond to of 43080
 
Morning entry strategies

Yes, Dave Shares pm'd me about two of them, one of which I was familiar with that didn't work, and the other was the one you mentioned, which I've used with some minor modifications. I have used that a cople of years ago on higher volume but less volatile stocks when I wasn't able to watch the ticker at open.

It works well on NYSE and AMEX stocks for the most part, but if the market turns sour after about 9:50 you can't get out sometimes. The best defense for that is to set your stop loss as soon as you find out you are filled. Tht is the other reason I was cured of doing it on NAS stocks as the mm's starting grabbing them shortly afterwords if they turned up.

lastshadow

lastshadow



To: Thomas Sterner who wrote (6301)1/13/1999 4:21:00 PM
From: Dave Shares  Respond to of 43080
 
Tom,

I believe that what you propose is the proper full gap down method, so it would be a very good idea for a stock that gaps down.

If the stock does not gap down, I'd kill the order, as you may not want to be trying to catch a falling knife.

David

p.s. I feel shaky about the market, and exited position longs in DIS and CBS today. that should provide the buy signal that the rest of you need.


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