Monday will start a new trading week, which is greatly needed for many, and will hopefully be a better week after the $RARS fiasco. There are a couple of stocks I am looking for a swing trade entry in.
I would also keep on the watch for the next APS promo at some point this week. Last time they pulled something with $AWSR they released their next pick the following week. There is a possibility that we see the same thing this week. I would definitely keep an open eye open for their next pick. When they do, make sure that you only buy into it once it is a confirmed APS pick by either them, or one of their sister sites. If you do decided to try and figure out the pick before hand, please only put in a small amount or the amount you are willing to lose. Personally I will just wait for the confirmation that it is an APS pick.
My watch list for the week:
$ORYN-
This is a big one on my list. It looks to be the same promoter that was behind $STVF. I will be looking for a swing entry Monday morning. I would like to find an entry around 1.20 or 1.22-1.24 depending on the activity we see in the morning. I'd also like to see over 50k in volume in the 1st 5 minutes of the day, preferably more.
Support lines will be :
1.24
1.20
1.18
1.15**
This may also turn into a good gap play..
$LUXR-
This one may be done after Friday's action but I will be keeping an eye on it. On the 2nd green day I will look for a swing trade entry on this stock. Again, look for 2 green days in a row for a swing entry. I do not want to see if fall below 1.62 on any dips.
This stock can also be good to play the morning dips.
$GWBU-
This stock had the most amount of Volume on Friday ever which makes me think that it is setting up for a really nice run. I will look for an AM dip to start a swing trade entry.
Support:
.8808
.8512
.8301
After swing trade entry I would like to hold for .98 as a sell target.
Those are my picks that I will be watching for the week. Another thing that I noticed is I need to make my plays the 1st hour of the day and the last hour of the day. That is when the penny market is most active and also it usually shows a good entry point in the morning. I have noticed that I am not getting in these stocks during the 1st hour and then I am stuck the rest of the day watching stocks that are hardly moving. I will try to play my hardest the 1st hour of the day to get in at an entry point and that way I only have to watch the stock the rest of the day.
Keep an eye open for the next APS pick! Happy Trading!
Sunday, May 13, 2012
Wednesday, May 9, 2012
What to expect tomorrow...
Many people today thought $RARS was the new APS pick, hey it still may be. I stopped myself from getting in for most of the day due to things not looking quit right. I took a very small position for gap and we have now received emails for APS that do not show $RARS as a pick. Head games are definitely being played here.
I see two options, 1, it's not their pick and it falls hard. 2 they announce it as their pick at some point tomorrow. Either way I am going to be watching this closely because something is definitely up. Don't quote me on this but I could see this being a shake out to get the stock at a lower price to start. Volume in the AM will be the tale sign.
Tomorrow I will look to see what the level two is showing along with price action and volume. I will most likely try and get out of this stock right away for a loss. If it ends up being the new pick I will look for a new entry to get in at. Again, price action and volume in the AM will be your sign on how you should react. Even if you take a loss the next pick is right around the corner so you should be able to make it back if you play it right. I will say though, today's volume means something.
Now the stock I really want to watch is $ORYN, thing is a beauty. I will be looking towards this stock for gap plays along with a swing trade entry. This stock has created higher volume each day so far.
$ORYN support lines to watch are
1.10
1.06
1.02
I will watch the daily 1 minute chart tomorrow and wait for it to hit off of a support line once. If that line looks to hold I will enter there for a swing. Then at the EOD I will enter it for a gap play as long as all the signs are there.
$LUXR is also still on watch. Remember yesterday we said we would see another day or two in the red before it correct itself. That seems to still be the case. Keep this one on watch, to me it still looks to be in play.
That's all I got for tomorrow. It's going to be a weird day with what APS is doing. If $RARS loses my interest I will put all focus on $ORYN and look for scalps along with gap plays.
Remember, Stay calm! Enjoy the day!
Update: If $RARS has close to 25+ million or more in volume come out of it, I would join them and get out...
I see two options, 1, it's not their pick and it falls hard. 2 they announce it as their pick at some point tomorrow. Either way I am going to be watching this closely because something is definitely up. Don't quote me on this but I could see this being a shake out to get the stock at a lower price to start. Volume in the AM will be the tale sign.
Tomorrow I will look to see what the level two is showing along with price action and volume. I will most likely try and get out of this stock right away for a loss. If it ends up being the new pick I will look for a new entry to get in at. Again, price action and volume in the AM will be your sign on how you should react. Even if you take a loss the next pick is right around the corner so you should be able to make it back if you play it right. I will say though, today's volume means something.
Now the stock I really want to watch is $ORYN, thing is a beauty. I will be looking towards this stock for gap plays along with a swing trade entry. This stock has created higher volume each day so far.
$ORYN support lines to watch are
1.10
1.06
1.02
I will watch the daily 1 minute chart tomorrow and wait for it to hit off of a support line once. If that line looks to hold I will enter there for a swing. Then at the EOD I will enter it for a gap play as long as all the signs are there.
$LUXR is also still on watch. Remember yesterday we said we would see another day or two in the red before it correct itself. That seems to still be the case. Keep this one on watch, to me it still looks to be in play.
That's all I got for tomorrow. It's going to be a weird day with what APS is doing. If $RARS loses my interest I will put all focus on $ORYN and look for scalps along with gap plays.
Remember, Stay calm! Enjoy the day!
Update: If $RARS has close to 25+ million or more in volume come out of it, I would join them and get out...
Tuesday, May 8, 2012
Stocks to watch 5/9/2012
Since I haven't been able to play a stock in awhile I will be looking for an entry in a stock tomorrow. I am hoping to see APS this week but so far they have been extremely quite. Nothing off of their site or emails in regards to their next pick. There is a chance we will see something Thursday since that is the day we normally see their pick. Most likely it will be later this month.
Another thing I would like to mention is about gap plays. Lately I haven't played gap plays and it is hurting my profits. $LUXR is a great example, it had all the signs of a gap and still I did not get into due to one word, fear. I have to play these when I see them or I will continue missing out on profits and will never get over this. That stock ended up gaping huge and I missed out. Now the stock has tanked and I will not have another chance. Another reason to take a gap play when you see it is due to the fact that you may not see one the next day. Perfect example was today, there was no gap play. Now I have missed out on two days of gaps where if I played them when I saw it I would have only missed out on one.
Today's class on Stock haven's site seem to fit just for me. We went over gap plays, but something was said that I never considered before. Yes, you want to see prior gaps, close, close to high of day along with good volume. There is one more thing you want to think about when looking at a stock. Ask yourself, "If the market was open 15 more minutes would that stock continue to rise?". If the answer is yes, chances are you have yourself a good gapper. I will be trying this next time I see a gap play to try and help myself get into it.
Hopefully that information above will help you when it comes to playing gaps. I feel that it will help me immensely.
Since the market has been so slow chances are a promo will pop up soon. Below is just a couple of stocks to keep an eye on for the possibility of a promotion being done on that stock in the future:
$GWBU-
When looking at this daily chart you will see a huge volume spike a couple of days ago. Then it proceeds to go up on very little volume to the current prices. Since it went up on this low volume I would wait for it to come back down on low volume. Most likely if this is a promo they will drop it back down for the promo to start where I would look for an entry at.
Something seems very fishy with this stock so I will be keeping my eye on it to see if anything unravels.
$ORYN-
This stock has only been available for two days. In those two days you see two huge days on gains along with high volume. Something with this stock also seems weird. Just like the last one I would continue to watch it to see if they drop this stock before a promo begins, or should I say IF a promo begins.
This is another stock I would definitely keep on my watch list.
Stocks to watch tomorrow:
$BWEN- This stock started to gain attention around 2pm today. See if this one continues that trend in the AM. I don't like the way this stock traded in the last 5 minutes of the day with such high volume and price action. I will watch this stock closely in the AM. .37 looks to be support to watch for tomorrow. Resistance in the .39 range
$LUXR-
What we talked about in this blog came true today. This stock saw a pretty big red day that ended with it down -12.50%.
By the picture below you will notice that it came back down to the daily support trend line which shows that this stock still has life in it. It also still made a higher low and a higher high. This stock tricked me in the past but I am going to be watching it closely for an entry point. The only sign I don't like is that we saw a good amount of volume come out of it. We will most likely see a couple of red days before we see green.
I will be playing this stock for quick scalps along with looking for a swing trade entry. I will be keeping a very close eye on this stock and also looking to see if we make a lower low tomorrow.
Enjoy the trading day tomorrow and keep a close eye for new plays!
Another thing I would like to mention is about gap plays. Lately I haven't played gap plays and it is hurting my profits. $LUXR is a great example, it had all the signs of a gap and still I did not get into due to one word, fear. I have to play these when I see them or I will continue missing out on profits and will never get over this. That stock ended up gaping huge and I missed out. Now the stock has tanked and I will not have another chance. Another reason to take a gap play when you see it is due to the fact that you may not see one the next day. Perfect example was today, there was no gap play. Now I have missed out on two days of gaps where if I played them when I saw it I would have only missed out on one.
Today's class on Stock haven's site seem to fit just for me. We went over gap plays, but something was said that I never considered before. Yes, you want to see prior gaps, close, close to high of day along with good volume. There is one more thing you want to think about when looking at a stock. Ask yourself, "If the market was open 15 more minutes would that stock continue to rise?". If the answer is yes, chances are you have yourself a good gapper. I will be trying this next time I see a gap play to try and help myself get into it.
Hopefully that information above will help you when it comes to playing gaps. I feel that it will help me immensely.
Since the market has been so slow chances are a promo will pop up soon. Below is just a couple of stocks to keep an eye on for the possibility of a promotion being done on that stock in the future:
$GWBU-
When looking at this daily chart you will see a huge volume spike a couple of days ago. Then it proceeds to go up on very little volume to the current prices. Since it went up on this low volume I would wait for it to come back down on low volume. Most likely if this is a promo they will drop it back down for the promo to start where I would look for an entry at.
Something seems very fishy with this stock so I will be keeping my eye on it to see if anything unravels.
$ORYN-
This stock has only been available for two days. In those two days you see two huge days on gains along with high volume. Something with this stock also seems weird. Just like the last one I would continue to watch it to see if they drop this stock before a promo begins, or should I say IF a promo begins.
This is another stock I would definitely keep on my watch list.
Stocks to watch tomorrow:
$BWEN- This stock started to gain attention around 2pm today. See if this one continues that trend in the AM. I don't like the way this stock traded in the last 5 minutes of the day with such high volume and price action. I will watch this stock closely in the AM. .37 looks to be support to watch for tomorrow. Resistance in the .39 range
$LUXR-
What we talked about in this blog came true today. This stock saw a pretty big red day that ended with it down -12.50%.
By the picture below you will notice that it came back down to the daily support trend line which shows that this stock still has life in it. It also still made a higher low and a higher high. This stock tricked me in the past but I am going to be watching it closely for an entry point. The only sign I don't like is that we saw a good amount of volume come out of it. We will most likely see a couple of red days before we see green.
I will be playing this stock for quick scalps along with looking for a swing trade entry. I will be keeping a very close eye on this stock and also looking to see if we make a lower low tomorrow.
Enjoy the trading day tomorrow and keep a close eye for new plays!
Monday, May 7, 2012
What to watch 5/7/2012
Today saw a good amount of action. The penny market seems to be picking up again in the amount of plays it had today. Last week we saw a very slow week with little to play. This could be the 1st of many days where we start to see a turn around and see plays along with promo's starting to make their way back.
I noticed something that I am going through lately. Since I haven't played much due to the market being slow I am having trouble getting back into a stock. This is something I am going to have to overcome if I want to start seeing profits again. The big one I missed was $LUXR at the end of the day which was mainly because I received a phone call right before close. Hate when that happens!
If you ever find yourself in this rut where you don't play anything you have to realize a couple of things. One thing that keeps running through my mind is since I am not playing, I won't play in the future and therefore won't ever get to see profits again. This isn't the case! New plays will come around, the market will pick up and you will play again. As long as it's a good play you need to force yourself back in and continue to play or you will never get out of that "rut". That is what I need to do. I need to keep an eye on stocks and get myself in a play even if it's only for a quick scalp. I need to do this, this week.
There are a couple of things that I want to talk about in upcoming articles that I will list below.
- What to look for as an indicator a stock may not gap?
- What to look for in a tank?
- Website's where you can find good information
In articles to come I will start to address some of these things to better help us as a trader. That is the main point of reading and watching video's isn't it? To better yourself as a trader, and that is what we are striving to do.
$LUXR:
This is the main stock that I want to talk about in this blog. Remember weeks ago I talked about wanting to play this stock for a gap? I must have been blinded for the remainder weeks since this stock has come back to life and has made huge gains since we talked about it.
I need to keep a better eye on stocks like this so that I can get in early to enjoy some of those massive gains. This teaches us to simply not write off a stock just because it has a few red days.
If you look on the daily chart of this stock you will notice that is has been on a nice up trend and has even broke the trend line in a bullish way. Watch this stock closely as you may see it quickly come back down to make support. We also haven't seen an consolidation lately which makes me think that this is "the big run up" which is usually followed by a huge tank so be careful when holding this stock (not saying that it won't have more big gain days). We could be due for a pull back into the 1.60 range.
Support lines to watch:
2.06 Range
2.00
1.95 could prove to be big support
1.90
1.86
1.76
If it drops below 1.75 it is no longer making higher lows but rather lower lows which would indicate a sell signal.
I am looking to take this stock for gap along with playing quick scalps. However, I will not be able to trade till tomorrow before close and feel I may be late to the party by then. I would not recommend this stock for a hold. At these levels this is a hold/sell instead of a buy. A buy would have been around 1.30-1.60 since it is close to support levels where as now it is far above them.
Again I am not looking to play much until the next APS pick comes out. When that happens you will notice these articles will have much more detail in them along with game plans as that will be my main focus.
Have a good trading day tomorrow! Look for those stocks to make quick profit!
I noticed something that I am going through lately. Since I haven't played much due to the market being slow I am having trouble getting back into a stock. This is something I am going to have to overcome if I want to start seeing profits again. The big one I missed was $LUXR at the end of the day which was mainly because I received a phone call right before close. Hate when that happens!
If you ever find yourself in this rut where you don't play anything you have to realize a couple of things. One thing that keeps running through my mind is since I am not playing, I won't play in the future and therefore won't ever get to see profits again. This isn't the case! New plays will come around, the market will pick up and you will play again. As long as it's a good play you need to force yourself back in and continue to play or you will never get out of that "rut". That is what I need to do. I need to keep an eye on stocks and get myself in a play even if it's only for a quick scalp. I need to do this, this week.
There are a couple of things that I want to talk about in upcoming articles that I will list below.
- What to look for as an indicator a stock may not gap?
- What to look for in a tank?
- Website's where you can find good information
In articles to come I will start to address some of these things to better help us as a trader. That is the main point of reading and watching video's isn't it? To better yourself as a trader, and that is what we are striving to do.
$LUXR:
This is the main stock that I want to talk about in this blog. Remember weeks ago I talked about wanting to play this stock for a gap? I must have been blinded for the remainder weeks since this stock has come back to life and has made huge gains since we talked about it.
I need to keep a better eye on stocks like this so that I can get in early to enjoy some of those massive gains. This teaches us to simply not write off a stock just because it has a few red days.
If you look on the daily chart of this stock you will notice that is has been on a nice up trend and has even broke the trend line in a bullish way. Watch this stock closely as you may see it quickly come back down to make support. We also haven't seen an consolidation lately which makes me think that this is "the big run up" which is usually followed by a huge tank so be careful when holding this stock (not saying that it won't have more big gain days). We could be due for a pull back into the 1.60 range.
Support lines to watch:
2.06 Range
2.00
1.95 could prove to be big support
1.90
1.86
1.76
If it drops below 1.75 it is no longer making higher lows but rather lower lows which would indicate a sell signal.
I am looking to take this stock for gap along with playing quick scalps. However, I will not be able to trade till tomorrow before close and feel I may be late to the party by then. I would not recommend this stock for a hold. At these levels this is a hold/sell instead of a buy. A buy would have been around 1.30-1.60 since it is close to support levels where as now it is far above them.
Again I am not looking to play much until the next APS pick comes out. When that happens you will notice these articles will have much more detail in them along with game plans as that will be my main focus.
Have a good trading day tomorrow! Look for those stocks to make quick profit!
Wednesday, May 2, 2012
Another slow day... Is the penny market in a rut?
Today marked another slow day in penny land. Not only was it slow but we witnessed multiple stocks tank. $ICPA, $LQMT, $SEFE, $SNPK. All these stocks either tanked or had a really down day. Granted some of these are promo's ending but it still shows that the penny market is in favor of the bears and is in a slow point right now. Gap plays are almost none existent, SMA only had 3 days before it tanked. Something definitely looks strange.
While I haven't been trading very long so I don't have much to go off of but, the market does look extremely slow right now. There is no denying that we are in need of a good play. Hopefully APS is right around the corner. Since it is slow right now people are itching to play something. I am hoping that they all swarm to the next APS pick since the lack of plays is evident.
While we did see another APS email on $SNPK today something changed that is in our favor. If you head over to their site you will notice that the banner stating what their pick is was taking down showing nothing at the moment. This could be a sign that a new pick is on the horizon. When the emails stop you should really start to expect the next pick.
Since the market is slow I really don't have any picks that I am watching. I am also saving my day trades for the next pick so I am not stuck with only 1 day trade when that time arrives.
There is one stock I want to focus on really quickly and how it could have helped you improved your 1 minute day charting skills that we talked about a few articles ago.
$EVDR:
Now this stock became sketchy after the 1st hour so so due to the lack of volume but there was a support area that you could have bought in to make a quick scalp trade for some nice again. (You can tell how slow the market it since were looking at this stock) Looking at the picture below could you tell the area you would have wanted to buy in at? Hint: It became resistance later on.
Now if you were able to pick it out, excellent. It went a little below the support line at one point but that's ok. Your stop loss could have been the low at the open and it never went below that level during that time period. I see three good entry points when looking at this chart in the 1st hour and half that you could have made nice gains and quick scalps. If you still can't see it view the pictures posted below.
If we see that support line (green) and established it early on it would have allowed us multiple entries into this stock for a quick scalp. Granted you want to use the level two also to confirm that it has hit support. The more I take the time just to watch stocks in the morning on the one minute chart the quicker and more comfterable I feel calling out where a good entry would be. I would recommend that as a good starting point until you get to the point were you feel comfortable enough to play a quick scalp.
I can not emphasize the point enough, the importance of being able to point out support and resistance, along with being able to point it out on the level two. Once you figure those things out it's amazing how quickly you start to see entry and exit points in stocks. Again, I would recommend doing what was stated above to get your feet wet so to speak before playing with real money.
That all for today! It's been slow out there so remember to make smart trades and never try and force any! Keep an eye out for the next APS pick!
While I haven't been trading very long so I don't have much to go off of but, the market does look extremely slow right now. There is no denying that we are in need of a good play. Hopefully APS is right around the corner. Since it is slow right now people are itching to play something. I am hoping that they all swarm to the next APS pick since the lack of plays is evident.
While we did see another APS email on $SNPK today something changed that is in our favor. If you head over to their site you will notice that the banner stating what their pick is was taking down showing nothing at the moment. This could be a sign that a new pick is on the horizon. When the emails stop you should really start to expect the next pick.
Since the market is slow I really don't have any picks that I am watching. I am also saving my day trades for the next pick so I am not stuck with only 1 day trade when that time arrives.
There is one stock I want to focus on really quickly and how it could have helped you improved your 1 minute day charting skills that we talked about a few articles ago.
$EVDR:
Now this stock became sketchy after the 1st hour so so due to the lack of volume but there was a support area that you could have bought in to make a quick scalp trade for some nice again. (You can tell how slow the market it since were looking at this stock) Looking at the picture below could you tell the area you would have wanted to buy in at? Hint: It became resistance later on.
Now if you were able to pick it out, excellent. It went a little below the support line at one point but that's ok. Your stop loss could have been the low at the open and it never went below that level during that time period. I see three good entry points when looking at this chart in the 1st hour and half that you could have made nice gains and quick scalps. If you still can't see it view the pictures posted below.
If we see that support line (green) and established it early on it would have allowed us multiple entries into this stock for a quick scalp. Granted you want to use the level two also to confirm that it has hit support. The more I take the time just to watch stocks in the morning on the one minute chart the quicker and more comfterable I feel calling out where a good entry would be. I would recommend that as a good starting point until you get to the point were you feel comfortable enough to play a quick scalp.
I can not emphasize the point enough, the importance of being able to point out support and resistance, along with being able to point it out on the level two. Once you figure those things out it's amazing how quickly you start to see entry and exit points in stocks. Again, I would recommend doing what was stated above to get your feet wet so to speak before playing with real money.
That all for today! It's been slow out there so remember to make smart trades and never try and force any! Keep an eye out for the next APS pick!
Tuesday, May 1, 2012
Stocks to watch 5/2/2012
Today I was not around for most of the trading day. From what I gathered it seemed to be another slow day. I ended up not taking a gap. $LQMT looks like a gapper, if I were to take one it would be that stock. The thing that turned me off about this stock was that it is getting close to the previous highs and we could see those gains quickly turn into loses. I will explain later my thoughts for $LQMT.
There aren't to many promo's right going on right now. Big ones that is. Most people seem to be waiting for the next APS play. It is possible we see a new pick this month. There are a few things you want to look for. The main one being is, the emails they send out. We have yet to receive an email for $SNPK in May. If this continues we could possibly see a new pick this month. If we do receive another email it will most likely not be until June. Personally I see June as the most likely but that does not mean it can't come this month. Be on the watch as it could be any time now. Also, APS has a record of only picking stocks that have never traded before. Because of this look for a new pick that is getting high volume with price action. You should be most alert on Thursday's since that is the day APS like's to announce things.
Another thing I would highly recommend is joining www.stockhaven.com. The advantage of that is you will get alerted almost right away by people who may have gotten the email before you. You also will usually get a confirmation that it looks like the pick in the room. I believe they even found one of the picks before it was announced, don't hold me to that. You have a much higher chance of getting in the next pick early by not only joining that stock room, but also staying alert.
Here are stocks I will be watching tomorrow:
$ICPA:
I will be looking for that .055 break and entering a small position for a day trade. The lowest I want to see that stock goes is .0371. Any lower and this stock is no longer making higher lows.
$ICPA Support:
.0411
.0441
.0371
I may take a small position if any of these supports are hit for a quick scalp play.
$LQMT:
Many took this for a gap play today. Due to previous history it makes me a little nervous since it has gaped down and then dropped on previous days that it was up. I will be looking for a .6349 break out.
.70 range looks to be more resistance for this stock when looking at a yearly chart. Be cautious of that range when playing this stock.
$LQMT Support:
.59 range
.53 range
We want to see 800k+ in the 1st five minutes as a signal that this stock will move higher. This stock had good EOD buying which is what we want to see tomorrow at open.
$SEFE:
This stock looks completely done to me. I will not be looking at support and resistance levels on this stocks due to it giving up yesterdays gains along with some of the previous days. Who knows maybe it's a new way to lure in shorts, to me it looks done.
It still seems like slim pickings when it comes to stocks lately. I will be mainly watching $ICPA and $LQMT tomorrow and going into this week.
Remember don't force any trades when it's slow. Only play if you see good plays, don't try and make them.
Update: Crap, looks like APS put out new emails for $SNPK. This week looks out for the new pick and to me June looks more likely. Still keep a close watch though. May could possibly be a very slow month. Hopefully something will come along.
There aren't to many promo's right going on right now. Big ones that is. Most people seem to be waiting for the next APS play. It is possible we see a new pick this month. There are a few things you want to look for. The main one being is, the emails they send out. We have yet to receive an email for $SNPK in May. If this continues we could possibly see a new pick this month. If we do receive another email it will most likely not be until June. Personally I see June as the most likely but that does not mean it can't come this month. Be on the watch as it could be any time now. Also, APS has a record of only picking stocks that have never traded before. Because of this look for a new pick that is getting high volume with price action. You should be most alert on Thursday's since that is the day APS like's to announce things.
Another thing I would highly recommend is joining www.stockhaven.com. The advantage of that is you will get alerted almost right away by people who may have gotten the email before you. You also will usually get a confirmation that it looks like the pick in the room. I believe they even found one of the picks before it was announced, don't hold me to that. You have a much higher chance of getting in the next pick early by not only joining that stock room, but also staying alert.
Here are stocks I will be watching tomorrow:
$ICPA:
I will be looking for that .055 break and entering a small position for a day trade. The lowest I want to see that stock goes is .0371. Any lower and this stock is no longer making higher lows.
$ICPA Support:
.0411
.0441
.0371
I may take a small position if any of these supports are hit for a quick scalp play.
$LQMT:
Many took this for a gap play today. Due to previous history it makes me a little nervous since it has gaped down and then dropped on previous days that it was up. I will be looking for a .6349 break out.
.70 range looks to be more resistance for this stock when looking at a yearly chart. Be cautious of that range when playing this stock.
$LQMT Support:
.59 range
.53 range
We want to see 800k+ in the 1st five minutes as a signal that this stock will move higher. This stock had good EOD buying which is what we want to see tomorrow at open.
$SEFE:
This stock looks completely done to me. I will not be looking at support and resistance levels on this stocks due to it giving up yesterdays gains along with some of the previous days. Who knows maybe it's a new way to lure in shorts, to me it looks done.
It still seems like slim pickings when it comes to stocks lately. I will be mainly watching $ICPA and $LQMT tomorrow and going into this week.
Remember don't force any trades when it's slow. Only play if you see good plays, don't try and make them.
Update: Crap, looks like APS put out new emails for $SNPK. This week looks out for the new pick and to me June looks more likely. Still keep a close watch though. May could possibly be a very slow month. Hopefully something will come along.
Monday, April 30, 2012
4/30/2012 Update: Why trend lines are important
In my blog last night we took a look at the daily trend lines for $SEFE. We talked about how old support/resistance trend lines can become new support and resistance. Below is a picture of the daily chart for $SEFE.
If we notice Friday's resistance line (the lowest red line) looks to be new support. If you look at the highest red line that is now resistance. If those two trend lines stay in tact we should be able to go off of those lines for an entry and an exit price. If the new support line fails we should see that become resistance again. If it breaks past the 1st red line which is now resistance it could act as support.
The last couple of days have been the 1st time I used daily trend lines but already I can see the importance of using these lines.
Imagine this, you are looking for an entry into a stock. You see the stock hitting the support day trend line, the daily chart is hitting a support line and the level two is stacked on the bid. You now have 3 indicators telling you to buy this stock! You have just minimized your chance of loses and greatly increased your chance of profits into your favor! The same thing can also be done when looking for an exit point in a stock by looking to those three indicators.
That is just something I wanted to share really quickly. Take some time to practice marking out daily trend lines. I will write a new blog as talked about yesterday Tuesday night. Enjoy the trading day!
If we notice Friday's resistance line (the lowest red line) looks to be new support. If you look at the highest red line that is now resistance. If those two trend lines stay in tact we should be able to go off of those lines for an entry and an exit price. If the new support line fails we should see that become resistance again. If it breaks past the 1st red line which is now resistance it could act as support.
The last couple of days have been the 1st time I used daily trend lines but already I can see the importance of using these lines.
Imagine this, you are looking for an entry into a stock. You see the stock hitting the support day trend line, the daily chart is hitting a support line and the level two is stacked on the bid. You now have 3 indicators telling you to buy this stock! You have just minimized your chance of loses and greatly increased your chance of profits into your favor! The same thing can also be done when looking for an exit point in a stock by looking to those three indicators.
That is just something I wanted to share really quickly. Take some time to practice marking out daily trend lines. I will write a new blog as talked about yesterday Tuesday night. Enjoy the trading day!
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