Here’s How I Look For A Little Bit Of Extra Help
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One of the best ways to gain confidence
is to ‘bounce’ ideas off of our fellow members. Trade confirmation
ultimately has to come from within, as we alone have to take responsibility for
our positions. This goes for the pleasurable part of the business, and deciding
how to take profits, but also for the equally important risk management of
positions that ‘aren’t working for us.’Â
That said, by being active in the chat, or with
other members thru Private Messaging, you can always try to benefit from what
others have to say about a particular stock that might otherwise go unnoticed.
Today, Hyperion Solutions
(
HYSL |
Quote |
Chart |
News |
PowerRating) was
one such stock. I personally was monitoring the stock for reversal patterns
after a recent drubbing on the daily chart, as it tested a potential technial
support zone. During intraday pattern development I happened to be in an Instant
Message with a trader friend of mine. We both felt Hyperion was showing a solid
signal for entry thru the Cup and Handle high of 28.44.
Less than 10 minutes later in TMs
Chat, one of our members ‘Ace’, happened to mention the stock slightly above
the intraday breakout level, and how the 200-Day moving average was helping the
technical picture of our friend HYSL. I also pointed out that the stock had held
the 62% Fibonacci retracement level on the daily chart perspective.
Between instant or private messaging, and
watching what others are saying in the chat, you just might find yourself doing
a little something unexpected, compliments of your network of friends that are
always there for you, right at your fingertips.Â
Chris Tyler
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