Rick, Heck, I might even start trading ASND now!
HAH! Keep your nitro glycerine (sp?) handy... This puppy does 12-15 point swings! Ask Tim Luke. This is one of his favorite position/day trades along with XCIT. I actually am long ASND. Have had 600 shares for a long time. I just like to dip my toe for day stuff too.
I read about 6 or 7 TA books before starting in earnest. I'm still trying out different things to see what I feel most comfortable with. I'm definitely staying away from the AMZN, YHOO, EBAY crowds. Got burned there when I started thinking fast, big moves were good. Try getting out of an AMZN collapse in price using a slow internet order entry system! Now I'd rather have one good 1/2 point run in safety per day. I could live just fine on that. If I get better and make it 1 point a day, I'll be very happy.
I can see it takes a LONG time to get the necessary experience. We have to go through up/down markets, fast days, slow days, stocks in favor and out of favor, high/low cap stock behavior, etc.. There are many, many variables.
My next project is to understand gap behavior: when to hold overnight; when to short at a gap up at open and when to hop on and go for the ride up; when to buy a gap down at open; when to play the reversals after a gap.
So much to learn.... If I only had tomorrow's WSJ... |
