Registered: Nov 2002
08-03-05 06:48 PM
Quote from wvombaur:
This is just my opinion. Some other users of trade ideas may think differant.
When I see a running down of a stock that has a high number of new high alerts....and the market is trending up....the running down is a chance to get in on a long. The exact opposite on a running up in a flat or declining market. I ALWAYS go the exact opposite of the RUNNING UP OR RUNNING DOWN alert IF THE ALERT IS CONTRARY TO THE DIRECTION OF THE MARKET. If it continues to go in the direction of the alert...I just get out quick and take my losses. I use the new one minute high and low as an indicator that the stock is POSSIBLY going to run up or down in the direction of the high or low 1 minute alert, this is more reliable after a long pause.....like say it goes to 45 new high, than stops and new one minute low appears on screen....this may be an opportunity for a short, and a running down of the stock.....I will usually play if the market is going to flat or down.....less risk.
It is all about a feel from watching the charts, and the direction of the sp500 and/or nasdaq 5000, you MUST HAVE ONE OF THOSE UP with specific stock charts....also look for exp moving average 5,20 and 50 day as resistance or support points for sp500 and/or nasdaq. I only use s/p 500 chart, because nasdaq 5000 is to heavily weighted with little stocks, that I do not play
I do not fool with pull back trade idea indicators, so maybe dt or someone else can help
thanks for your insight