Thank you for your posting. I made some good money following you on twitter with GPL and LZB. Unfortunately you did not post ACHN. That day I was waiting something from your tweets .... but nothing came ;-(A question: did you trade the set up you posted here on friday?Thank you very much.
I did alert about overnighting $ACHN on thursday. http://twitter.com/#!/tradermarket247/status/40866670247411712I traded VG ES and AZC on Friday.
You are right.I did not understand that that sentence was your buy. Very good.Thanks again
Hi tradermarket247, I traded azc and I was stopped out. I wonder if you are still in that trade and where you put the stop.Thanks
I really depends on where you bought $AZC and how much you are risking. I held overnight yesterday because it closed near the high of day on high volume in hopes for a gap up on the next day. Today's move was actually very healthy where it bounced off previous breakout level(now support and closed back up. We should see a healthy move to the upside in the next few days. Check out the intra-day chart here http://dl.dropbox.com/u/1179779/2011/AZC%20intraday.jpg
I gave out the buy signal back at 5.25 http://3.bp.blogspot.com/-IaU-iz3KNGg/TWeGTRcZ7tI/AAAAAAAADa8/ctvlvTn0c6w/s1600/AZC.jpg
ach .... I understand. You bought it the day before and you kept it overnight. I opened the position on monday the 28th!!!It seemed strange to me but I gave a try.When you post a watching list do you put stop orders to buy next day for all the stocks. Then after beeing triggered you evaluate if you are going to keep it or .... can you give some clues about how it works for you.Thanks
Depends! It is very important to see how strong the momentums are on each stock pick that I post on my blog during the next day. Typically, if a stock would trade above/near it's average daily volume, I would pay more attention on them. Why? Because it shows interest/momentum for the day and is possible that it is setting up for more breakouts in late day trading. We(traders) make watchlist/trading ideas is to be prepare what is coming to us. I am not here to be RIGHT but to be READY. So I can be able to ACT immediate when opportunity shows up to me.
"Typically, if a stock would trade above/near it's average daily volume" - I meant earlier in the day best would be if volume were already above average during first hour of trading, then very likely something is going to happen to the stock in late trading and best to pay attention to them.Also, beside a daily watchlist. It is important to check premarket gappers because gappers sometimes are great momentum play. Example: $LZB
tradermarket247, thanks a lot. trading is very difficult ... so many things to watch.I will try to trade some of yours set up and see if I can improve.Ciao
Just remember: do not try to TRADE my setups but try to UNDERSTAND Why I do what I do and morph it into your own style. Blindly follow others will not get you anywhere. Good Luck with your trading and I hope I am helping you out.
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