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The philosophy behind day trading is simple in that you buy into a volume stock that has purported good news and you sell at a profit at the end of the day. To hold means that you could lose so you sell regardless of the stock holdings.

I have a share trading software that graphs sharetrading on an hourly basis and also access to a 'daytraders' forum and I frequent both for stocks and comments on stocks that are earmarked (with high volume and recommended by the system as a buy).

The trend since last Monday is that early morning the majority of these stocks are rising, but after lunch declining below the days opening. The daytraders are thinning somewhat on the 'daytraders' forum and the mood has turned very negative. It is obvious some (hmm maybe a lot) have lost money and are trying to incite investors to buy stocks that have really no substance.

Brokers are no longer optimistic.

Remember that in any bear market it is the concept stocks that take a battering. If in doubt of the company (and the substance behind the reports) get out and cut your losses.

The investment dollar is moving from concept stocks to income growth stocks.

This market is volatile and for those that think that they can make money out of daytrading then the news is bad!
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