TATRADER GIZZARD STUDY--Stocks 12.00 or Less..... Message Board

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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less.....

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To: Blue h2o who wrote (54714)	4/17/2006 2:48:49 PM
From: lexi2004	Read Replies (1) of 59879

CPST...was reading a book over the weekend named GEOMETRY OF STOCK MARKET PROFITS by Michael S. Jenkins. Excellent book IMHO. Guy was saying that you should use an intraday chart with 60 minute candles to see patterns you normally wouldn't using daily. He uses that as his guide for trading. Right now I'm using 60 days, 60 minute candles on CPST. He says in normal trading, you put your stop under the previous low, which would be 3.86. He said in very volatile stocks that have gone up many stair steps, put the stop the low before the previous low for there are too many headfakes to get your stops. Looks to me that 2 lows ago would be 3.49. I don't see CPST as having gone up a lot of stair steps in the recent time frame, nor is it extremely volatile, IMHO. Therefore, think that break under 3.86 would be the place to get out in the short-term if it doesn't go up. Now, has it lost its momo. Not to me it hasn't. If you have noticed many of these energy stocks have these times when they base. There is nothing that I see that makes me think sell. Looks like a symetrical triangle to me and that could break either way. Lexi

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