In a bear market, sell oversold rallies lasting 2 consecutive days by selling the open on the 3rd day and only pick bottoms at the close of a big down day to sell at the open 2 trading days later. BTW, we are in a bear market. Smells like November 2000.
I use an assortment of indicators.....MFI is mostly for longer term positions, but I found it useful when trading intraday as well....To answer your question years... Most of my entry points are based on 3 to 5 day price changes or Delta......I buy weakness and average in at the extremes and cross my fingers.....Very risky strategy when playing with high beta names... $COSTAverageMAN
Basically although I can not quantify it (actually I probably could) through the 200,000,000 shares I have traded in my life this works for me. I guess its the tape reading intuition I have acquired in my life, but in practical terms it's just nice to not get run over when you put a bid in for say 5000 shares of aapl. I like the stock to prove my position is right with my tiny origianl order. If I miss the move with size so be it but this tends to work better for me.
July 2007 was like March 2000. We've gotten some acceptance of the problems like November 2000, but not an admittance that the market was in a bear market. We got that in April 2001. We're still a long ways away, for sure, but people are definitely not bullish. Just very hopeful.
This is the BIGGEST point trader miss right here. You don't EVER put your whole line on the trade until it proves to you it's going to work. You take nibbles here, nibbles there, and if it doesn't work you lose on a nibble or two. When it does work you win with a big chunk. Money Management is the most neglected aspect of trading. Most traders are typically under-capitalized so they don't have the luxury of taking a nibble. 400 shares on a RIMM trade is usually their entire line. If you're not funded properly think about going prop, or figure out some other way. No setup posted here, but lots of substance for sure!
Es mean reversion move to 1415/20 providing an exceptional sell but not quite the ultimate before we leg down severely off the Es/spx break of the weekly diamond topping patterns that was noted in december. measured target on spx off diamond break is 1225.......c ya when we get there.
Sold another 20% of LDK @35.40 32.08-35.40=3.32 3.32/32.08=10.34% Not to bad for today... Still holding 60% of open trade