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Strategies & Market Trends : Technical Analysis - Beginners
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To: TA2K who wrote (9194)2/13/1999 11:49:00 PM
From: Ken Carter  Read Replies (1) of 12039
 
Evening Nicholas,

<< With my limited insight, I've sort of arrived at the conclusion that if news has come out today or yesterday afternoon, *avoid* playing that stock. >>

Many stocks will move early in the morning when news is released then pull back. This is the time that you should jump on the other end of the trading game. If you watch a stock that has been breaking out because of some news, You should look at it on a real time chart, preferably a 5 min chart and draw trend lines and resistance lines on these charts. When the stock in question hits these resistance points and then fails to break above it's time to think of SHORTING it. So many people are afraid to SHORT stocks. I have found that most stocks go down A LOT faster than they go up. In a market that is moving up and down as this market has been doing. Many dollars can be made in a short period of time. ( 5 to 20 minutes sometimes ) I have made more money in the last 2 months playing the SHORT side than I have going long...
It was asked earlier if anyone trades stocks under 2.00 I do and have been doing it for years. I prefer stocks over 5.00 at this point in my trading life but only because it gives me more buying power with margin. Lower priced stocks ARE tougher to trade but can be VERY profitable if done properly.

Will stop rambling now,
Good trading,

Ken Carter
sku.com
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