Can someone explain "slingshots"

Discussion in 'Trading' started by mrktwiz, Sep 9, 2002.

  1. mrktwiz

    mrktwiz

    as they relate to Opening Orders - Don I now you have an answer to this, can you (or anyone) tell me exactly where on ET to search (performed a search on slingshot's and got so many returns it was impossible to get a claer answer)

    Any help would be appreciated...and yes Don I know I could come to class and learn this......still building my trading capitol.

    Thanks in advance for your guys help....

    Good trading all...

    mrktwiz

    Don...btw hearing great things about your "Boot Camp!" for your new group their in LVegas.:D
     
  2. mrktwiz

    mrktwiz

    help??

    mrktwiz
     
  3. Funster

    Funster

  4. mktwse

    A slingshot is a pattern originally written about by Jeff Cooper in his first book called Hit and Run trading. It involves not getting flushed out of bullish moves from a previous false reversal. As i remember it goes something like this

    day 1; stock makes new two month high
    day 2 the takes out day one low by at least 1/8
    Buy if the stock trades 1/8 above day one high.

    Hope this is what your looking for, not aware of anything new

    Sterling
     
  5. Slingshots, as Don refers to it when talking about opening orders, is not the same as the Jeff Cooper slingshot.

    Don is refering to the instances right after a stock opens when the specialist will whip the stock up or down very quickly, do a few prints, then reverse it. By having limit orders already in 15 or 20 cents away from where the stock is trading, you might get out at a good price before the stock reverses.
     
  6. mrktwiz

    mrktwiz

    thanks again...:p

    mrktwiz