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In a message dated 8/21/98 10:54:25 PM Eastern Daylight Time, boggio@xxxxxxxxx
writes:
<< . One of my favorite techniques is to find stock that were down
big during the day but rallied substantially off those lows by the close of
trading. >>
Hi John : )
If your observation is valid...How about the SPY (spy-dr) on he amex.)
I originally bought on Aug 6th low. Managed to get stopped out Friday,
because
I raised my stop to 87 1/2% of range, 106 1/8...this is approx. My reasoning
is that I didn't want to get caught in a gap type drop, if it traded below
the prior low 105 1/2...double bottom.
As of Friday, it tagged that price again...tripple bottom ??....MAYBE?
and closed up handily in the 108 area.
How does SPY fit in with the trading strategy you mentioned. If so,
please give me your imput as to how I can re-enter this baby, and participate
in the move to 112 1/2 ...114 area into Sept 6th, LABOR DAY.
I appreciate you experience and understand that you are not giving
investment advise any more than I am, but rather trading techniques that have
worked well in the past.
I am sending a copy to RT, as I feel it might be of general interest. I know
that I will be interested in reading other responses that you get as well as
hearing what other stocks pass the screen that you suggest.
THX , GerryB/jer33:3/eccl 1:9
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