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Strategies & Market Trends : Analysis Class for Beginners

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To: Arthur Tang who wrote (675)	12/15/1997 6:56:00 AM
From: Arthur Tang	Read Replies (1) of 1471

Some one wrote me by email to advise me that Nasdaq has island system where the limit orders are posted. Where one can use it's data to establish resistance and support levels. The high limit sell orders are resistance and the stop loss orders may be support. Well, I am wrong on the stop loss orders. They are the downward risk. When business is slow, pull back will scoop the stop loss orders. You will be sure to lose your position in your investment. Because with the extra inventory from your stop loss orders, market makers have to move the price up to attract people to buy their inventory. Momentum players love high limit orders to set their profit goals. And we usually find that what they brag on the posts were also their own horror stories. My advise is always "Don't tip off people with your limit or stop loss (limit)orders". Sell you stock at the end of the day, after you studied the 1 minute interval intraday chart to see if all the money is in. After you sell, the price always move up? If it is a big position.

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