Large Range Rules

  • April 5, 2002
  • Duke Heberlein

I often get asked the question, “Are the intraday setup alerts only good for
that day?” While in a literal sense the answer is yes, the truth is a stock can
move for several days, so when you see an intraday setup, you may want to give
the stock some closer scrutiny.

 


12:11:41

Intraday Setup Alert

Gtech Holdings (GTK)
is trading in a

Slim Jim at the intraday high. GTEK is now up 4.16 to 50.96.

 

Yesterday we profiled a move in GTK when it was trading in a Slim Jim.
Looking at the daily chart tells another story.

 

 

Large range breakouts were the stock’s intraday range balloons
to a larger spread is a signal of momentum. For daytraders this means it should
go on the radar to track for possible continuation in today’s session, which it
does.

 

 

Daytraders have seen the benefit, of continuing to follow GTK.
Get in the habit at the end of the day of checking charts, and these gems will
not pass you by.

Have a great weekend,

Duke