so with rimm its just something that you feel based on trading it lots?? i used to trde F regularly and was always right on those ones, these days i dont ususally pay attention to a stock for more than 15 mins though, ill put rimm on the watch list, best of luck to ya tomorrow. where you sseeing support at anunakki?? nyone else got some golden picks for tomorrow???
that and the fact that part of todays decline they are going to hear was based on an error, ma and pa may think that they have the inside edge based on cnbc poor bastards
Are you really considering this? If so, you are "Ma and Pa" If, at a poker table, you don't know who the patsy is, it is you.
As for the original subject of how to play this tomorrow morning I would wait to watch the opening range and volume. Today we had 50k+ volume on 5min bars on the ES for the 1/2 half hour after the opening bell which was a sign the market was going to move. Normally on a trending day we see about 25k, and on a choppy day we see 10-15k. If the initial range is tight on the open look for a break out. Simple enough.
With delicacy and conservatively. Let some wounds heal first. Watch action in the first 15 min, at the very least. Draw the top and low range of that timeframe. Use daily pivots to guide yourself and watch Adv-Decl carefully. Tight stops and stay with the trend. Hope you do well. Neet
Why do you think a one day decline will 'force' the market to cut rates (which is not really the way it works), when an 8 month rally didn't force the Fed to raise?
I'm goin all in....at the open. Some of these stocks are at prices that are just too good to pass up. Gonna get me some. Hooyah!
This morning when I saw the futures down over 10, I put in a few of orders before the open on NYSE stocks looking for a gap down. My plan was to get out as soon as possible and I was willing to settle for half of what my daily profit target was, I was lucky, I got 60 per cent and was out of the market in less than a minute. I plan to make the same play tomorrow but I will not put my orders as much below the close as I did this morning. I think to make 50 per cent of your target on days like these, is a good goal. I have actively traded for over 15 years, the last 10 full time for a living and there is no book on how to trade 400 to 500 point down days.
Drew, its a combination of things, if it was localized to the USA, and the selloff wasnt worldwide, then the FED could sit back, plus other situations as credit swaps and housing all impinging on the market at the same time.