A Guest Lesson…
I love it when the java applet gives a heads up to a good trade. I love it
even more when a trading professional takes the information and uses it to his
advantage.
| Search Results Total Records: 1 Viewing Records: 1 to 1
|
Amgen
(
AMGN |
Quote |
Chart |
News |
PowerRating) comes across the applet at 10:35 eastern, when it
breaks the threshold of 100% of its average daily volume early in the trading
day. The information then is posted in the
TradersWire Interactive chatroom.
Duke (Jul 16, 2002 10:41:16 AM):
AMGN up on more than 100% avg. vol, defying market and drug sector and trading
in triangle at i/d high
When the stock breaks out of the pattern a few minutes later,
traders are able to take advantage of the move. TM contributor David Floyd even
thanked me for the heads up on AMGN.
“What was great about this call was that during the whole
vicious second down leg of the sell-off, AMGN not only gained ground, but was
trading on 100% of its normal volume. A quick look at the chart showed that it
was poised to go higher, with a little help from the futures.
Once the horizontal resistance, (pink line) was broken and then with the hourly
moving average (blue line) broken, it was pretty much a no-brainer to go long.
With a protective stop in place you were more than adequately rewarded.”
The alerts are just that, alerts. But when you pull up the
chart, you can then put the pieces together. Many thanks to Dave for showing one
way you could have done that this morning.
Until tomorrow,