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Don,
I don't know the exact times, but I've noticed that "bad news" brings a
gap from the previous day's close - the stock goes down lower a point or
two in the first hour of trading - reaches its low by 10:30 - 11:00am -
then rebounds a point or so the rest of the day. Seems to have occurred on
BA two days in a row and also with SEG (Seagate) a few days ago.
It seems there are opportunities to buy after that first hour of trading
to grab a point profit.
This is based on only a few observations - have you seen this pattern on
others?
Also, why did BA have delayed openings two days in a row. Was it a case
of traders reacting on the breaking news the first day and casual
investors reacting to the media release of the news on the second day?
Bob.
On Thu, 23 Oct 1997, Don Green wrote:
> Well, I sold short at 48.5 and the stock went as low as 47.75, I could have
> and maybe should have sold then,
> (Hindsight!!!) but I feel the market will still go lower. BA is presently up
> to 49 where is seems to have topped, so I am losing 1/2 point at this time.
> I am considering buying another 1000 shares, which will again push my
> account close to margin call levels.. So I will wait awhile.
>
> If you haven't noticed. The market moves in waves...(Surf's Up).... Usually
> just after 1:30 PM EST the market makes a major move up or down... Then it
> generally continues until about 3:30PM est which is put of or shut up time.
> I get out around this time at the latest.
>
> I hope somebody, is learning something from what I am saying
> Regards
> Don Green
>
>
>
>
==================================================================
Bob Dombrowski, Buffalo, NY
ah149@xxxxxxxxxxxxxxxxxxx
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