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

To: Matthew L. Jones who wrote (9009)	2/22/1999 10:14:00 PM
From: LastShadow	Read Replies (1) \| Respond to of 43080

Thats a little complicated to explain. I reduce my lists to the ones that I screen both via the Technical Analysis and the neural net. Once the TA identifies the primary strengths, I use the net to predict price movement and screen those out. Using Medved's Quote Tracker I load about 5-7 portfolios by type (Internet, Sector, similar patterns, similar price ranges, etc) of about 30 tickers each. Although I keep a core set of my long postions (about 12) in Mach6, I setup other portfolios and add to or delete as appropriate during the day. PreOpen, starting between 7:30 and 8 I read the news feeds, check the movement of trades/volume/futures traffic from Form T's or other similar data on Quote.com's Pulse charts. That usually gives me some indication of what I want to set as alerts for opening half hour. I then launch abut 6 browser windows to monitor News, Earnings, Splits, etc. as well as this thread. I used to open the chat room on my website, but since that was mostly John Kim and I chatting, not much point. I then set up the TA on the laptop to download stocks data for new tickers that come up. I am also running a few windows of different sites (Mach6 gap lists for example, and now the Map ofthe Market to see how it performs. Once the market opens I get a fairly clear picture of whether sectors, or story stocks, or unrelated issues are moving. Since I rank by % change from yesterday's close that is fairly simple to track. I eliminate low volumes during the day, and move tickers to different portfolios as appropriate - although as I have mentioned, I still miss some like PRGY today. I run both the cable modem and the fiber optic line inputs to one machine for two browsers (IE and Communicator), and just the phone line to the other when I need a third browser (Opera). Now this is where it gets a little hard to explain. I filter the charts visually from quotetracker looking for those bottoming or those on slower but steady rises. Since I have already familiarized myself with the chart patterns, trendlines and previous close/hi/lo range, its basically just a memory task of letting stock prices, alerts, volumes and hi or low flags trigger a more detailed look on Mach6's system. Sometimes I just cycle through the time/sales windows on a variety of stocks until I see the movement I am looking for. 90% of the stocks are always ones I am famaliar with though. Since I have photogenic memory (which is trained and somewhat natural, and not entirely natural like photographic btw), and since I have fairly good abstract reasoning (ie, symbolic and number memory) its a little easier for me to do, I suppose. The easiest way to look for stocks though is not to look at those rising, but those falling or level the first half hour to an hour. If you follow rising tickers, you will never get in near the bottom. If you start following good candidate stocks that are dropping, its a lot easier to see them hit some floor and start to level or see if the volume and number of ticks or size of the buys increases to get in. Put all that together, and occasionally one lucks out. lastshadow