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One of the best ways I found to pick a winner has been to scan the news wires after the market is closed and before it opens.You'll be surprised what gems can be found by buying this way.It's reasonable to say you can make 3-5 % a day on your picks if you manage them properly.Some of the biggest gainers have been stocks that released news BEFORE the market opened.Companies like to have their press releases in the morning which is great for us because there is no need to constantly keep checking your portfolio.Of course there are certain criteria I follow when buying on stocks on news: 1.Always check to see if the story is fresh.Allot of times companies release the same news over and over. 2.Stay away from stocks with very low volume. 3.Check to see if there was a run-up on the stock earlier. Sometimes news leaks out before press release. 4.I like a stock that has nice base for awhile or is at the low end of it's trading range.The way I figure it is the worst the stock can do with good news is stay at it's current price or maybe go down a little but the upside can be great. 5.I can't stress Level II enough.It's a must when daytrading. 6.Look for good solid news and check to see how the company responded to previous news. 7.Check to see how many shares they have.The fewer the better. 8.Have a broker who gives fast executions. 9.Greed will kill you.Remember 5% 2 or 3 days a week will make you plenty. 10.Always buy with a limit order...NEVER MARKET ORDERS! I'm sure I'm forgetting some points but you get the idea.I will try to post my recommendation @9:25 am or so.I can't promise a post every day since I have two Taverns to run here in Philly but feel free to post your own picks.Try to give a quick synopsis of the stock and post the link.When posting a news story put "NEWS ALERT" in the title. Good Luck to all! LouieD BTW...for realtime news try here newsalert.com | ||||||||||||
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