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Strategies & Market Trends : Trader J's Inner Circle
NVDA 177.00-1.8%Nov 28 9:30 AM EST
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To: snerd who wrote (4665)1/15/1999 10:01:00 PM
From: Triffin  Read Replies (2) of 56535
 
Snerd/THREAD...What to look for in a 'play'

I wanted to make a couple of observations about
the IMON trade that some are currently in as an
example of a worthwhile set-up to stay on the
alert for during our daily stay on SI...If you have a portfolio
set up on SI you will need to go there to follow this if
not then go to this link and proceed:

techstocks.com

1) type IMON <space> IATV in the window and depress
the <get quotes> key

2) when the next window appears with a detailed
quote for these two stocks the stock symbol should be
a hot link

3) click IMON

4) when the page comes up scroll down to the
20 day bar chart and make a mental picture of the
price pattern for this week

5) continue to scroll down and observe the building
volume pattern for each day this week..

6) page back and repeat for IATV

7) Keep this "positive price action coupled with
rising daily volume " pattern in your head...this is
what you want to see in all worthwhile 'plays' it is an
indication that a "story" is out and people are "reacting"
to it..

8) It's a green light to a trader and why several people
jumped in without any real DD

9) Make this procedure part of your screening process.

Jim in CT..
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