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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: aliveinsf who wrote (57476)8/25/1999 12:26:00 PM
From: Jenna  Read Replies (2) of 120523
 
Aliveinsf.. Coincidentally I was just working on that chapter in the Manual. The difference between stops in 'high-flyer's and regular stocks like ADIC. That was the day BRCD was up about 22 points.. On the intraday chart there were two occasions when the the stock dropped below the center line which was my line of 'sell' but I thought that for stocks that run 10 points a day I would lower my stop so as not to miss the next run up. I did not sell BRCD on that 'small drop' and it did recover. I have about 4 examples of that.
There are also factors to consider like the inside bars and how close high low and close is (5 minute bar versus the 15 minute bar), range, and how much the volume is in each bar. If the volume drops off when the stock goes down its not as important as if the volume picks up. If it picks up on the downtick you might have a problem.

It depends on how low it goes on the chart however. PHCM is the most complicated to read lately. and although EFNT was on the watch list I'm not that familiar with its price patterns. What I did with BRCD, EXDS is plot about 4 or 5 occasions of BRCD,EXDS when they were up on an intraday chart, and try to note how far it retreats before it 'rebounded'..and if there was a pattern. It worked best with the EXDS charts, but even BRCD was okay.

EFNT I would probably take a profit, and certainly would not hold overnight. I got a little bite of NTOP but it was better than losing. NTOP could have bought every morning like PHCM with just about 60-70% of the profit which is better than nothing and holding overnight with the obvious fears of morning gap down.

My longer term suggestion is read these books:
Trader Vic-Methods of a Wall Street Master by Victor Sperandeo
and Linda Bradford Raschke's book, Street Smarts.. I seem to have 'adopted' some of their methods but its too complicated for a post.

For a little easier book or rather a primer before you read the others I'd read Jake Bernstein's The Compleat Day Day and/or Elder's Trading for a Living. I was told to read Jeff Cooper's book and I probably will.. I haven't gotten around to getting it yet.
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