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Strategies & Market Trends : Technical Analysis - Beginners

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To: gonzongo who wrote (8440)	7/14/1998 7:55:00 PM
From: Daniel Miller	Read Replies (2) of 12039

Well, I do loook at the charts but I don't look at every triangle, wedge etc... I look for major trends, and secondary trends. But I do not base my decision on that because the trends change frequently on news. I enter when I see the stock is low and expecting news, or earnings. I try to buy before the stock is noticed by too many people, I like discovering the "diamond in the rough". I then will sell on spikes. Usually a penny stock will not be able to stay up too long before you see a major sell off. I then wait for the sell off and buy back in. Remember sell on spikes buy on dips. Best way to play it. Unless it is news, I will keep it on a spike. Such as MPTV had a spike up to .041 one day but fell back down to .023 or so. I was unsure wether the news would be out then so I kept on cause it might fly so fast their may not even be a dip. But ussually I will try not be too greeedy and sell the penny stock with only about a 100-300% profit. Just to be safe. When in the long run you could see it go up 500-1,000+%.

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