trendscanner
265 posts
msg #84775
- Ignore trendscanner |
12/21/2009 6:16:25 PM
karennma
"BCRX breaking out soon! "
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Karen, there's an investor on another forum that I'm a member of that is proficient at trading "bottom fishing" plays like BCRX and STEC. He shared a tip with me for playing them that seems to work pretty well. His main point to me was that most people enter these trades too early and get burned. His strategy is to use a 15 min chart for them and plot the 100 MA, 200 MA and 300 MA on that chart. He enters long only when the current price and the 100 MA have crossed above the 200 MA and 300 MA on a 15 min chart. He said that in his experience, at that point it is usually safe to enter the trade, using an appropriate stop of course in case things turn south.
If you use that chart set up and look at STEC, you'll see that it made a big move upward shortly after the price and 100 MA moved above the 200 and 300 MA.
If you look at BCRX with that chart set up, it doesn't look ready to move up yet. If you're interested in trading BCRX, you might want to track it using this chart set up and wait for the price and 100 MA to break above the 200 and 300 MA.
GL
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moby
314 posts
msg #84785
- Ignore moby |
12/22/2009 12:11:45 AM
JohnPaul: BAC res at 100ema, is that something you would enter on green and sell at res, or wait till it backs off the 100 and enter as it goes up thru it?
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johnpaulca
12,036 posts
msg #84786
- Ignore johnpaulca |
12/22/2009 12:59:23 AM
Moby...wait for it to cross ema100 on 2hr-chart which will then coincide with daily booya buyzone. The band angles are sloping down so I would prefer to find other fishes to catch.
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moby
314 posts
msg #84787
- Ignore moby
modified |
12/22/2009 1:37:40 AM
Thanks JohnPaul, that helps a lot. :)
LNG fits that example perfect.
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Eman93
4,750 posts
msg #84792
- Ignore Eman93 |
12/22/2009 7:59:48 AM
AMZN looks interesting
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karennma
8,057 posts
msg #84793
- Ignore karennma |
12/22/2009 9:13:30 AM
Trendscanner:
I'll check it out.
Sounds like the "Golden Cross" ..
Thanks for the info ...
:>)
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karennma
8,057 posts
msg #84794
- Ignore karennma |
12/22/2009 9:17:26 AM
Geesh!
There goes ATHX again .. up 39% in pre-market
Another pre-market gainer ....
** YRCW **!!
yeah baby!!
I'm gonna cash in today!!
$$$$$$$$$$
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karennma
8,057 posts
msg #84795
- Ignore karennma |
12/22/2009 9:21:06 AM
BCRX = $5.90 in pre-market.
:>)
STEC up 5% in -premarket
$15 coming!!
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karennma
8,057 posts
msg #84797
- Ignore karennma |
12/22/2009 9:29:59 AM
JP:
Are your ToS free charts working?
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Eman93
4,750 posts
msg #84798
- Ignore Eman93 |
12/22/2009 9:59:46 AM
RDN trying to BO
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