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Strategies & Market Trends : Strictly Buy and Sell Set Ups -- Ignore unavailable to you. Want to Upgrade?

To: Paul Kern who wrote (4336)	6/21/2005 11:05:13 PM
From: chowder	Respond to of 13449

Paul, I'd be remiss if I didn't provide you with another strategy for entering stocks that have too wide a range to wait until price trades 6-12 cents above the previous day's high. Often times I will watch the stock trade for the first 30 minutes of trading and then set my entry a few cents above the 30 minute high. To provide an example, I'll use today's chart of PPP. PPP had a wide range bearish bar today and came down to touch a support level. Assuming I wanted to go long PPP, I wouldn't want to wait and buy above $53. That's too much ground to give up. If I were interested in going long PPP tomorrow, I would wait and buy above the 30 minute high, provided the 30 minute high was above today's close. stockcharts.com[h,a]daclyiay[db][pb50!b20!f][vc60][iut!Lah12,26,9!Lc20]&pref=G This type of entry is important in low priced stocks as well, as we don't want to give up double digit gains to wait on an entry target. The important thing, if you use this tactic, is that you must use good stop loss disciplines or the strategy can back fire on you. dabum