The Law Of Inertia
Daytraders often look for breakouts on an expansion of the average daily
range. When this takes place, volatility is increasing, and the likelihood of
the momentum continuing for the short term is excellent. Yesterday we spotted an
expansion breakout near the end of the session.
15:35:22
Igen International (IGEN)
is staging an expansion breakout. IGEN is up 4.65 to 35.86 and has a
3-month relative strength ranking of 69 from TradingMarkets.com.
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This morning IGEN shows follow through, and daytraders are able
to catch a fast point in the first hour.
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It is impossible to spot every breakout as it is happening, but
you can catch them after and continue to stalk them for continuation. Remember,
stocks in motion often stay in motion, at least for the short-term — a few
minutes up to a few days.
Until tomorrow,
Duke