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

To: SteveDavis who wrote (9197)	2/25/1999 7:15:00 PM
From: Matthew L. Jones	Read Replies (1) \| Respond to of 43080

Steve, Thanks. Do you mean you look for a news item that will drive the prices (like NOVL today with the upcoming earnings which the whisper had at an upside surprise)? After finding your target stocks do you watch them to gap up then jump on with the first pull back? I use AB Watley and Real Tick 3 and get instant executions on NASDAQ items (listed stocks and options typically take a minute due to the "auction market" deal as opposed to an electronic market. I'm looking for the actual trading technique. For instance, with no money in the market these last couple of weeks and low volume, I've noticed that a rally runs out of gas about the time I get in and when momentum stalls, buyers start lifting their bids and a stock will drop like a brick so that you can't place orders and cancel old orders fast enough (and I can do it in a matter of 2 seconds... but the market moves down that fast). Do you try to scalp little short plays (couple of minutes) or do you take a position after the 10 o'clock pull back and ride it for the best part of the day (until the 3 o'clock sell off)? Do I understand you to say that you will give yourself a one or two stock watch list? (As opposed to a dozen or so?) Thanks for your help. MLJ