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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 691.960.0%Feb 11 4:00 PM EST
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To: Johnny Canuck who wrote (25860)4/1/2000 5:39:00 AM
From: Johnny Canuck  Read Replies (1) of 70699
 
Good advice for traders who do not have deep pockets:

cbs.marketwatch.com

Wallstreet Sentiment:

Cisco? The most expensive company in the world whose stock is trading at more than 200 times earnings? To a technician like David Bush, co-editor of The Pristine Day Trader <http://www.pristine.com>, "quality tends to be expensive." But that doesn't mean Bush will buy Cisco at any price. Indeed, he reads charts for signs that it's time to jump into Cisco.
Bush said Cisco (CSCO ) recently broke out of a trading range -- a price range a stock can't seem to breach for a while -- on high volume. That means big money, or institutional investors, have jumped into the stock. The time to buy Cisco, an uptrending stock, would be during a pullback in price. Cisco closed at 77 5/16 on Friday.
He spotted Cisco after following these technical analysis guidelines:
1. Look for strong stocks in uptrends with rising moving averages.
2. Wait for pullbacks after the stock hits a new 52-week high.
3. The stock should have a pullback of three to five consecutive days.
4. Look for daily lows to be equal or higher.
5. See if the gap between the day's high and low is narrowing.
6. Look for a close above the day's opening price -- means bulls won.
7. Look for the stock to go higher than the prior day's high.
8. Buy the stock. It's better to get in if the breach happens late in the trading day when the market is strong.
9. Place a sell stop below the low of the pullback, usually on day 5.
10. If the trade isn't working out? Generally, if the stock exhibits a bullish pattern and has all of the criteria mentioned above, be patient with

cbs.marketwatch.com
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