News Clues
There is only one factor to consider when interpreting news events — how the
stock reacts on the news. If the news is good and it sells off after gapping
higher, it is probably going down. However, when the momentum sticks, that is
another sign that you can exploit.
10:48:27
Intraday Setup Alert
Forest Labs (FRX)
is forming an ascending triangle on its intraday chart. The company raised
its earnings guidance before the open, and the stock is a member of TM’s Momentum
List. FRX is up 4.82 at 86.83.
Even if playing breakouts is not your style, daytraders can take
advantage of the rally out of a pullback.
Learn to look at the action following the release of news. Many
people are of the belief that all news is already discounted, or not important.
In truth, they are at best only half right. The news itself means nothing. It is
how a stock, or the market reacts to it.
Until tomorrow,