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Strategies & Market Trends : Ask DrBob
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To: Jeff O'Brien who wrote (92347)1/3/2006 2:21:38 PM
From: FLACK  Read Replies (3) of 100058
 
Jeff O'Brien - "I guess my question is
are these two situations oddities,
or are we seeing this more and more in trading
these days???"

There doesn't appear to be anything odd about this action.
Both stocks happened to fall and bounce off their 50-day
moving averages. Today CWTR fell below this MA but
has recovered... likewise the NAS composite.

I think you're doing the smart thing - watching very closely.
The closer you watch a few stocks, the better you
understand their personalities and the more accurate
your reflexes become - or LACK of reflexes.
When you've seen these same moves over and over again, you
are less likely to enter or exit on the spur of the moment.
Just because we're day trading doesn't mean that we have
to react to every twitch in the price. A good day trade entry
or exit can simply be measured against something as obvious
as yesterday's high or low. And, of course, that signal
theory can be expanded upon to include the previous
X number of days highs, lows... or the AVERAGE high
or low closes over X number of days.

Day trading in light volume can be tricky -
the past seven or so trading days have been quite light.
Things should pick up soon, and then following an
intraday move can prove fruitful.
These stocks simply need to see a day or two on higher volume.
Baring that, they could become short plays.

At the moment, I'm not trading... waiting for something to break - either way.
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