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Strategies & Market Trends : Dave Gore's Trades That Make Sense
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To: Dave Gore who wrote (648)1/10/2002 10:58:39 AM
From: Dave Gore  Read Replies (1) of 16631
 
LOOKING FOR THE EASIER MONEY

Charting is key to helping you turn the odds in your favor and get in on the easier money. Not easy, but "e-a-s-i-e-r."

SEBL at 23/24 a few weeks ago (now in the 30's). What was the upside and downside risk? The chart told you.

Ditto, MSFT at $65.85 last week and many others.

Even poor performing IMCL this morning was a great quick trade when it hit 30.01. There is usually major chart support at a big whole number, especially after it has fallen so much. You could watch the selling volume slow as it got near 30 and buyers begin to step in.

Although we occassionally buy quality momentum or penny stocks (an oxymoron...lol?), this thread primarily believes in buying quality names when they offer rewarding, lower risk buy points. A strong run on good news followed by a normal pullback on profit-taking is but one example of TRADES THAT MAKE SENSE. Especially if the market and sector is strong.

So why not get yourself a charting program and start to look at support, resistance, bollinger bands, 20 and 50 and 200 day moving averages, etc? It's free and will give you more confidence and even help you better read the minds of tens of thousands of others who are now doing chart-reading.
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