You have to remember that there is no centralized marketplace for the Nasdaq, so there cannot be any way of the same thing happening. By reading the NYSE tape, you can usually get involved when you see the Specialist getting ready to do a "print" at a price away from the current market. This technique will alert you to the times when stops are going to be triggered. We don't recommend that our traders use stops, rather we rely on alerts or other triggers to let us know when a stock hits a breakout or breakdown level. This way we can take into consideration other market data to determine if want to get involved.
Breakouts and breakdowns are a good way to trade but alone they don't work to well. I have found if you use a MACD and moving average they work better. The other thing I look for is a big bid with aggressive buying on the offer. You will know the stock is going to take off when the ticker is all green. I want the offers to be moving out of the way with very little resistance.
Smikey Trader, I was just curious about the "simple overbought/oversold indicators " you mentioned in this post, what are they??? Thanks