I would like to start a thread discussing the breakout/breakdown strategy and how various INTRADAY traders trade these. Consider the following scenario: Stock XYZ is a volatile stock that has had large (2-5) INTRADAY point swings over the past few days on over 100% increase in daily volume. It is now 10:00 am and it is making a new intraday high, do you: A) Go long as soon as it breaks the high. B) Wait for it to clear the high by a certain amount to confirm the breakout and then go long. C) Wait for a pullback before going long. D) Wait and try to go short (top pick). Conversely, if the stock is making a new intraday low, do you: A) Try to short it (normal way or, or, for you pro traders, put a bullet on it) as soon as it breaks the low. B) Wait for it to clear the low by a certain amount to confirm the breakdown and then try to go short. C) Wait for a pullback before going short. D) Wait and try to go long (bottompick). What other factors do you consider, if any, i.e. time of day, previous days' range, technical analysis, if it is listed (NYSE) or NASD, sector action, overall market conditions, etc? I'd be very interested in hearing your responses as I have seen various posts on ET in which certain traders discuss bottompicking/toppicking, waiting for pullbacks, and that breakouts/breakdowns are a dead strategy in this market.