|Sent on:||Monday, May 11, 2009 11:00 AM|
Do not trade in the before or after market. It is too thin. You can buy into a breakaway gap(that’s one on really big volumes) up to 10% above the pivot but realize that unless it really powerful most stocks that gap up retrace to the gap or below. Another strategy is to put in an order to buy at a certain price after the stock retraces but no less. Ask your broker to explain Buy Stop Limit orders. You will still miss some this way but sometimes catch one closer to the pivot after a big gap up. The safest strategy is to wait for the stock to set up technically again and buy on a breakout from a secondary buy point. Yes, you will miss some big winners, but the way to stay in the game is to avoid big losers.
Sent: Saturday, May 02,[masked]:18 AM
Subject: [ibd-2] Where are those cups and handles?
Congrats to Jeremy P. on GMRC! Do you still have it like both Ken and Kate advised in the Market Wrap and DSA this evening?
I missed GMRC! Not because I did not hear and see about it from Ken and Kate! Like many stocks, I kept looking for the cup and handle and there was never a cup and handle.
Sometimes when there is a cup and handle, the stocks “gap-up” the next day right past the buy point before you get a chance to buy them at 6:45AM.
Does anyone have any advice for me? Should I buy on heavy up volume regardless of the buy point? I kept looking at GMRC before it gapped up and saying to myself: it is too far extended beyond the buy point.
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