Second Chances
I often get emails asking why we don’t make more direct recommendations on
buys and short sells for traders. One of the biggest reasons is that trading is
not really that black and white. A setup might behave exactly as it should, but
often it will not. The market likes to perform the most obvious action in the
most unobvious fashion, with as few people on board as possible.
09:55:56
Intraday Setup Alert
VeriSign (VRSN)
is rallying out of a pullback from its intraday high. VRSN is currently up
0.86 at 39.41.
Take the 9:55 alert on VeriSign
(
VRSN |
Quote |
Chart |
News |
PowerRating) this morning. Right after
the profile, it failed, hitting protective stops. However, 30 minutes later it
broke out above an angular triple top.
The stock ran up 1 1/2 points from the breakout point.
Setups alone do not make a trader, you have to learn to read
market behavior and have patience to know when to stalk a stock. The market does
not like to be accommodating. Become a student of market behavior, and you will
begin to increase your account balance.
Until tomorrow,
Duke