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Strategies & Market Trends : Market Gems-Trading Strong Earnings Growth and Momentum
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To: Jenna who wrote (1654)1/13/2001 12:50:04 PM
From: Jenna  Read Replies (1) of 6445
 
ALWAYS keep up a 5, 15 minute and daily chart of the stock you are trading or even following. We speak about support
resistance line all the time but there are major areas of support/resistance and minor area of support/resistance (pivot points). When your stock hits trigger on the intraday chart, look at the daily chart for a panoramic view of where that intraday trigger falls in the daily chart.

On many occasions this week our intraday triggers ultimately broke important resistance on the daily chart (mostly the 20 day moving average) and thats when they really soared. Almost every day there are gap ups and gap downs and the daily entry points either move away so far using them as triggers are unfeasible. If your stock moves way out of range of your alert which you might have set up the night before, just reevaluate the situation and look to the INTRADAY CHART and REVERSAL PERIODS and follow those as guidelines. Don't lose sight of those original alerts as they will be critical pivot points from where you stock can take off even further, but rather buy at the low or high established by 10:00 rather than wait 3 or 4 points for an alert you probably set last night to go off.

marketgems.com

marketgems.com
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