DAYTRADING/SWINGTRADING STOCKS with INTRADAY INVESTMENTS Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : DAYTRADING/SWINGTRADING STOCKS with INTRADAY INVESTMENTS

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: TWICK who wrote (161)	5/31/2001 10:31:19 AM
From: -	Read Replies (1) of 565

MUSE might work as a long scalp or swing (pullback rebound)from the daily timeframe. On the intraday 5min timeframe it just (10:30AM EDT) bounced off the declining 200MA in the after a 2.3 point move up off the open on 715,000 shares... so it's really too extended intraday, to enter here without excessive risk (need a pullback; it's starting one now). You do have the sector action working for you, as software is rebounding today (MUSE is in the net mgmt software business). However, haven taken profits on our overnight longs on the runup, we're not that hot on entering Nasdaq longs here going into the doldrums... you'd probably be better off to wait for the final 90 minutes of trading and see how the market's holding up before considering any new longs today. The biggest negative I see about MUSE is, it has been chopping around in a fairly wide sideways trading range for 6 weeks after undergoing a major decline (accompanied by bad news/CEO+CFO resignations, etc)... so the underlying trend is sideways. I'd prefer to trade a pullback in a trending stock so that the strength of the underlying trend is working in my favor. Also, MUSE is currently trapped just under it's 50-period MA on the daily. Hope that's helpful. Good trading, Steve

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next