Look Both Ways
Many times we discuss the alerts in TradersWire
as being geared for either day or swing traders, but the truth is
any alert is applicable to both styles. Good daytrading candidates often have
good-looking daily charts, and the best daily chart swing setups are great
daytrading stocks most of the time. Yesterday’s example of L-3 Communications
(
LLL |
Quote |
Chart |
News |
PowerRating).
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10:35:49
 L-3 Communications (LLL)
is rebounding off a 38.2% retracement and the 50-day moving average. LLL is
up 2.93 to 111.34 and is carrying a
3-month relative strength rank of 64 from TradingMarkets.com.
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Upon seeing the alert, a daytrader can look at the intraday
chart and find a good intraday trade prospect.
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Learn to check the charts, no matter what the alert, and no
matter what the time frame.
Have a great holiday weekend!
Duke