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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: - who wrote (103)	6/6/1999 5:27:00 PM
From: KM	Read Replies (1) \| Respond to of 18137

Steve: Let me ask you this. Sometimes, in a strongly trending market, such as in the internets in April, you could buy a stock like YHOO or RNWK, CNET, etc. and hold them for hours, making multiple point gains, and still close out the trades at day's end, often at the high of the day. I usually didn't do that because I would sell while there was still a lot of buying pressure (you know, the old sell when you can, not when you have to) and sometimes end up buying back higher and selling again. Do you close out after a certain point even if the stock looks to go much higher? I am asking that because you said that your intraday holds were 1-10 minutes. In CNET, right near its first split, I'd buy it and hold it for several hours with a stop in mind if it backtracked. Is that not advisable? Thanks.