This is a daytrading method that almost never fails. It only works on NYSE stocks Before the market opens pick 10 or so stocks that are in a steady risign trend of some sort that are on the NYSE and put em on your screener. For example, MTL, FWLT, CLF, etc. These stocks should be near or at 52 week highs and have a lot of 'momo' and some hype. Then iregardless of the overall market watch what happens to these stocks for the first few minutes. If any one of these drops 1% or lower as soon as trading begins SHORT IT ASAP. It will appear as a long red candle on high volume. Odds are it will drop another 2-4% by 10:00 AM. Why does this method work so well? Because funds decide for whatever reason before the market opens if they are gonna liquidate or accumulate a stock. Since most NYSE stocks have illiquid premarket the funds will wait till the opening bell and then start dumping/buying in 10-20K blocks. Anyway, after the initial dump the stock will be down 1-2% by 9:35-9:40AM. Then maybe some dip buyers will try to bid it up, but that is where you step in and SHORT IT. Very often, the funds aren't done unloading and will continue to steadily dump shares for the first 10-20 minutes of trading till atround 10:00 AM and then throughout the day. By shorting on the first red candle you can make good money as the funds continue to unload. - werd -
stock trad3r, you get flamed a lot here so I'm going to give you a tip to make you ET experience a little easier. When you post a stock trading method that works only for NYSE stocks, and only for NYSE stocks, don't use FWLT as an example. It gives the appearance that you posted while unprepared. Hopefully your chat adversaries here will go light on you this time. Thanks for method.
ST, Ack, these morons. I'm not even going to you ask you, because I know so. You claim day after day that daytrading consistently profitable is not possible. Now this..... Go eat a turd man. NN