Quote from sobemark: 01/14/2005 09:33:31 CREE CREE INC B 200.000 26.40000 -5,280.00 01/14/2005 09:33:31 CREE CREE INC B 800.000 26.39000 -21,112.00 01/14/2005 09:43:48 CREE CREE INC S -1,000.000 27.00000 You must have been following CREE very closely to catch it at $26.40 when it reversed at 9:32 from the pull back at 9:31. This is the chart I'm looking at: http://cbs.marketwatch.com/tools/quotes/intchart.asp?symb=cree&sid=9939&freq=9&time=1dy&siteid=mktw
I was just looking at fading back to the mean rather then thinking some anomalous movement wold continue. IE a breakout is actually anomalous but things consistently will fade back to the mean like a moving average, especially when the volume dries up. I was wondering how you decided to take this approach, have you previously ever tried trading chart patterns etc?
Break-neck trades in the early volatility are not for me. Slower moving action later in the day when the market has settled down is more to my liking, like APCS when it broke above 12.50, Friday: http://cbs.marketwatch.com/tools/quotes/intchart.asp?symb=apcs&siteid=mktw&dist=mktwqn
Newbies can note that at 12:50pm APCS was doing 1.3ml shares on an avg daily vol of 2ml shares, signalling above average buyer interest. Not a guarantee that the stock would go higher, but a good reason to give it a shot.
following CREE premarket and had a pre-determined entry strategy ... always a limit order thanks for the comments
yes ...that is the basic concept i use every time i trade ... the previous two examples fom last week were super gap fades but using the same strategy i described in the earlier paragraphs .. i will post my trades this week ... thanks for your comments )
APCS nice trend ... yes i can see this to be a nice trade ... this is a strategy i do not employ, since my tactics are contra-trend ... but, trading is not black and white ... only green and red ) thanks again for the comments ..