MLNM looks uncertain for a swing trade, nothing to confirm a trend reversal. Two tails and sideways movement for a week. I'd wait until it turns up (or down), pauses, and then resumes and then I'd look for entry with the trend. With this stock now, the worst you could do by waiting for better odds in your favor is missing the first 3 points on a reversal. I prefer to trade BBH, but haven't had a trade for the past week.
Can someone tell me how to save files as gif.? I think I need to install a file to windows to allow me to save bit maps to gif. Any help would greatly be appreciated while solving this .doc file problem. Thanks in advance.
What program are you using to screen-capture your charts? If it doesn't have a "save as" option, and offer the choice of GIF files (for instance, it only saves as BMP), then you will need a graphic file conversion program like Photoshop where you can open the BMP and save it as a GIF. There is a caveat regarding the use of Photoshop to make the conversion. Most BMP files are 24-bit and when you attempt to "save as" Photoshop will not offer the GIF option. To do so you must first alter the BMP to "Indexed Color" (essentially reducing it from 24-bit to 8-bit) by using the menu commands Image/Mode/Indexed Color. Once you've made the reduction, then when you select File "save as" you are offered the GIF option.
Dave, You're more than welcome. I enjoy your posts, and especially your charts with commentary, so this should make them more accessible for everyone.
I captured this RT page with just this chart using alt-print screen key combination and then saved it as a GIF filewith WIndows paintbrush (pbrush.exe) Let's see how it looks
Dave, dgabriel's method is easier and cleaner than mine, just tested it out in both Win98 and Win2000, works fine. Hadn't tried the crude Paintbrush app that comes with windows for many years, the earlier versions didn't allow saving in GIF format, the above two versions do (don't know about WinMe and WinXP, but I assume they do also).
I seems to work great. Thanks everyone for the help. AMGN is still choppy but holding support at 57.70 or so. I am day trading around these levels until we break the 200 MA (5 day/2 min chart) at 58.10. Then I'll lean heavier and more aggressive. In the mean time, I'll keep day trading small profits to work down my cost basis on the March Call I bought Friday.
Rule: never buy and intraday new low. It will usually come in more and give you a chance to buy it cheaper. This is an example of buying weakness into a bullish trend which I believe AMGN is starting.
Tight trading range. Still scalping for now. AMGN held a key support level indicating the bulls are strong. The Bio-tech's are getting hurt agin, yet AMGN holds up well. Remember, trade what you see, not what you believe. Today is an example of where I was bullish on Bio-Tech going in but didn't lose a dime since the intraday indicators said "NOT YET". Be patient for the buy signals, they will come, in the interim, I day trade.