Trading strategy Mon Sept 17th

Discussion in 'Trading' started by DTU__Ken, Sep 15, 2001.

  1. DTU__Ken


    I appreciate the supportive words and emails everyone's been posting and sending, many thanks :)

    Agree that there should be no sales/advertising on the message boards here (and anywhere for that matter), that was not my intent, as always I am trying to 'get the word out' on what I feel will be of help to people.

    Especially in a time of crisis, where traders feel lost etc, I took a couple hours yesterday to develop the page to help out. And again, we may not get a gap down and selloff, we may chop, we may breakout due to patriotic buying, all I know is, I use my patterns to trade specific setups, and will not be shorting this coming week.

    Solution: If it would help, I can post my technical charts and ideas at a free geocities-type board, to avoid any concern - let me know, traders.

    Making intelligent trading comments is helpful. Just think of how much better the site would be without negative posts and flames.

    --> The main thing is, I was Hoping to spark an Intelligent debate over gap plays and help by answering questions, what type of volume/stochs/other TA signals to look for, what sectors to play etc. this coming week.

    Re my thoughts on gap strategies, I thought I was adding "good info" by providing professional tips that arent' out there in the books, that I've found work well for me, specifically:

    1) Gap downs: best to look for plays where the stock gaps down to near the previous days' low and is starting to bounce (vs taking out a new 2-day low)
    2) If a stock gaps down to far below the previous days' low, look for premarket cup patterns and enter long bounces only after the stock has cleared .4-.5 over the whole number above the premarket gap down high.
    3) Large fast selloff to key support levels (eg whole numbers, decade numbers, 10day and previous day support levels) and consolidation/bounce.
    4) It's best to look for bounces after extreme multipoint selloffs that are now getting short covers/new buyers, not stocks that are in a technical downtrend, eg lower lows and lower highs.
    5) Time and sales shift from sellers back to buyers for at least 3 spreads in a row.

    It's my hope that the chart pattern illustrating some of these from last week would be a welcome addition to the community here. It's not basic gap info, there's some new tips I thought would be helpful for this specific market coming up.

    Thanks for your professionalism,


    Anyone have other specific, measurable TA pattern strategies they think would be useful to discuss for this coming week's trading? Let's hear it, traders! :)

    #11     Sep 16, 2001
  2. Ken,

    Appreciate your posts to date and your contributions here. I don't believe you are out of line with your posts. Also, I have no problem with Capitalism, good luck with your business endeavors.

    I do have a few Q's that I will post to you in the future, if you don't mind.

    Bucky Lee
    #12     Sep 16, 2001
  3. limbo


    Unfortunately-I must withdraw all my comments made regarding DTU Ken--I mis-identified the man. I know this site had some problems regarding him-his behavior-something. I don't know the story-don't want to know the story-but please be assurd I stand solidly behind the Elitetrader board and position. Thank you.
    #13     Sep 16, 2001
  4. DTU__Ken


    Hi - just a couple of other cautions, there may well be data overload/lag types of problems, so any trades I do (if anything looks good) will be using limit orders only via ecns and on small shares, to minimize risk.

    Best wishes,


    (excellent post by praetorian below too - thanks, you're a pro :)
    #14     Sep 16, 2001
  5. I would definately stick to ecn's only, if you're not dat, don't even bother tomorrow..... If you are trading nyse, I think tomorrow will be an ideal day for market orders though. There is likely to be huge island crossover, and you can pick dimes at will. I personally, will let it shake hard, and then buy. I've heard from a number of big traders that they've been told that this market WILL close green tomorrow. The government has almost guaranteed it. I really do trust these people, and I intend to buy with them in size. Good luck to all though. Don't forget that the adr's will gap hugely tomorrow overseas (probably up) and I intend to take some large asian positions home overnight if our markets are good.
    #15     Sep 16, 2001
  6. Perhaps end Green due to a 75 or 100 basis rate cut?
    #16     Sep 16, 2001
  7. Possible 1/2 point on CNBC. If so, we will see some serious short squeeze.
    #17     Sep 16, 2001
  8. WarEagle

    WarEagle Moderator

    No, one is Ken the other is Kent..I'm sure its a real pain for Ken to share such a similar name with a crook in the same business. He probably has to work extra hard to fight the misconception, and knowing how the CFTC can be sometimes, he probably gets Kent's subpoenas delivered to him.

    We went through all of this awhile back, and hope not to do it again. While I don't care much for vendors in this business, Ken has kept his posts useful and hypeless (which is much appreciated) and as such is welcome here imo.

    #19     Sep 16, 2001
  9. DTU__Ken


    Yes, we went through this before - I am not Kent C. Calhoun, I am Kenneth E. Calhoun, I live in Hawaii, I've never been to Texas and am not in any way connected with this person. There's thousands of Calhouns out there, though not many, I suppose, in the stock industry. It's an Irish-Scottish name, from Colquohoun.

    Thanks for the inquiry though. thx Kirk. And no, I've never had any correspondence etc related to this other person. I've provided stock-related services since November 1999.

    Personally, I don't know anything about commodity futures, though I should probably learn that area, as well as things like currency and other types of trading.

    Appreciate the comments, Kirk & Praetorian - I have held off on posting here since the last go-round ... wanted to post my thoughts re trading strategy for the group here. I'd like to get a dialogue started on specific strategy .

    Would be nice to keep the threads focused on trading strategy and techniques, eg professionalism. Any ideas, comments on gap and breakout daytrading strategy from folks? Let's hear it...

    Ken (no T lol) Calhoun

    no prob zen... good to ask i guess :)
    #20     Sep 17, 2001