Jerome -
Regarding your two questions...
1. I don't place as much importance on volume as many people do. Keep in mind that some TA'ers place a lot of importance on 'support' and 'resistance' levels, and watch for minimum volumes to define breakouts, etc.
Although I am aware of a stock's support/resistance levels, I don't focus on them for trading. As I think I said before, I focus more on weekly MACD/DMI indicators, which attempt to infer from the price action when a trend has been established, and how strong the trend is. When I've found a stock which has established what looks like a strong trend, I simply trade in that direction. It pays off.
2. As I said before, I will give my opinion regarding the short-term movement of the stock periodically, as long as folks realize it's only my humble opinion. I'm certainly not always right.
At this time, I won't buy SanDisk, because an upward trend has not been established since its fall back a few weeks ago. I don't ever try to predict at what level the stock is a good buy. I know this keeps me from getting in early, and I often miss out on the first few dollars per share in a trade. But I'd rather get in late than get in early, and then be wrong. Or end up sitting for a long time waiting for the stock to move. I don't like tying my money up in a sideways-moving stock.
Loren |
