Originally posted by nylord1
SE,
how do you select the stocks you are going to trade for the day? most volume for the day, or favorite stocks that you trade daily, etc.....
Also, do you avoid stocks that have big news on them i.e. accounting fraud....or do these actually work well with your technique because something like this would be trending quite a bit with big pull backs or rallies?
Something like eds recently i would be hesitant to trade with just watching the charts......he was spreading .50 to a dollar a clip a week and a half ago......I don't think the specialist would be watching the moving avg in a panic sell off like that .....
i'm enjoying your posts....keep on!
I trade sp contracts only. I will occasionally dip some change into the Q'z.
You can trade news infested stocks, but you should be very skilled in order entry and forget about routing to the specialist (?) Why would you ever do such a thing? Your putting your money in a guys hands that would rape your sister if you paid him 40G's/day.
Use ISLD and leave the specialist hanging on orderflow from institutions. They got deals worked out with Bank of America Securities and similar institutions for order flow (customer accounts). He will end up using ISLD and eventually the specialist will be sitting next to you in your favorite Proprietary Office.
Peace!
SE