A Major Key…
While Duke Heberlein
is on vacation, we present another classic TradersWire, this time from April 3,
2002.
Keep an eye on a stock’s behavior around the 50-day moving average. This is a
key alert zone where institutions look to either add to their existing positions
or lighten up on their shares. Several times a day the
TradersWire java applet reports on stocks when they hit this
important indicator.
I put this on my list yesterday when the applet alerted a
re-touch of the 50-day MA. Upon looking at the pattern, I liked the fact it was
moving in a counter trend rally after a probe to the downside.
Today the stock triggers, and swing traders are nicely in the
black. Learn to take a look at the applet throughout the day for this alert
level, and check the chart when a stock you think may be of interest comes
across the wire.
Until tomorrow,
Duke