"Learn some technical analysis...."
Good advice. Though I often knock you TA guys, I got to admit, V, you are the best I have seen in my many years of trading. In a sense I too use stochastics though it comes from my gut after knowing a stocks trading patterns over watching it for so many years. At a minimum, (keeping it simple) I throw up a five day Yahoo chart, and if I am feeling naughty, I might even go to clearstation and look at the 20 50 and 200 dma. Again, in my experience, there does tend to be some resistance and support lines for most stocks, above which you could have a break out, below you should consider stops.
Here are two I played yesterday. ONIS and PLCM. We were discussing the news and a game plan in premkt on the p-site of what to do with ONIS. finance.yahoo.com Our expectations were to buy it, but I told the member I would not buy the gap. The stock did gap up but quickly filled it kept heading south following NAZ giving a nice buying opp. I believe many took this opp and made a pt or two on the long side. I called the sell at 37, though I believe too some held this over the weekend.
PLCM had been basing at 28 and an alarm $ movement was set off at open. The stock started back on its upward move giving a nice entry point. finance.yahoo.com
None of this is science, but in sharing our ideas and yours, hope we can all be better at what tends to work and what doesn't...
Happy holiday weekend,
drink but don't drive...
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