Yes, there was a huge seller in AOL. I have seen "him" before recently slamming AOL, and then the selling even more ferocius. He would mercilessly sell the stock down, go away for a few minutes while the stock drifted higher from the daytraders that were riding on his back short covered, then would slam AOL again, only to take it down harder. Once he went away, AOL just jumped happy as a jumping bean. I too was in AOL as an "OO" order, but as soon as I saw that VIA was "delayed" I had my order ready to get out. When VIA opened gapping up, and AOL did not respond ("act well" as in previous post by Don's) I headed for the exits with a small loss. Don, I would appreciate your imput on my "tape reading." Regards, nitro
How do you select the stocks that you follow? The ones that have shown consistant results in the past? JJ
Don Now you have said A so please let us now B... You have told us a little bit about openings and you are showing us the results. Why dont you give us the complete strategy? Why are you giving us pieces of the strategy otherwise. Ads for your seminars? In general your posts are very informative, thanks! /Pitbull
This can be as simple as a "process of elimination"...I will give you a real example. I was given a modified opening automation program (modified by my niece)...she had about 20 stocks in there...I used them, took out a couple that were under $30, and then "balanced" the sectors a bit, and there I was. I have a couple of brokers, couple of banks, couple of Drug stocks, and 3 retailers. All big caps.
Rather than feeling that I am putting up "ads for seminars" - please believe me when I say that "a little bit of knowledge is very dangerous" ...since exit strategies are very complex and detailed...I cannot spend the time trying to explain them here. I want to be sure that anyone I work with has a good understanding of the basics we teach (tape reading, entry/exits based on prem/disc, pair offsets)...all the basic stuff we cover. Heck, the "schools" we teach are set up for traders who do this for a living, and we do our best to get our points across...but it does take time. For example..I have had many traders come to school, pick up some pointers, go back to my offices and "teach" others how to do things, with horrible results...those same people come and spend a week with us, and do much better(the Ol' "gee, no one explained that to us before). The cynics and sinister types on the board inerpret everything as an ad...well, if I was always "on advertising" I certainly wouldn't irritate as many people. Besides, how tough could 5 days in Vegas be anyway?
Here are my play's for today (open only): IBM, long at 125, exit 125,68, WINNER EK, long at 28,40, exit 28,30, LOOSER BBY, short at 75,05, exit 75,20, LOOSER BAC, long at 62,40, exit at 62,70, WINNER FDC, long at 76,85, exit at 76,98, WINNER avg winner 37 cents, avg looser 12,5 cents
I have a watchlist containing 200+ stocks which I screen and update every day based on FV and opening hits. Lot of research and analysis involved until I pick my candidates that hopefully have the right edge.