TWI Workshop for January 24

  • January 24, 2002
  • TradingMarkets Editors

Our goal in
TradersWire is to direct you to where
the action is. With that in mind, some of the names we were focusing on were
issues in the news this morning.

01-18-2002 


09:09:57

With new Federal baggage screening regulations taking effect today, watch for
bomb detection and security related stocks to make a move: (OSIS),
(INVN)
are trading up in pre-market activity.

 

InVision Technologies (INVN)
jumped out of the gate and continued higher, on a morning when stocks were
weak on the open.

 


09:36:49

Big Movers Out of the Gate

Gainers:
InVision Technologies (INVN)
up 1.94 and TeleTech Holdings (TTEC)
up 1.42.

Losers: Genesis Microchip (GNSS)
down 4.68, Microsoft (MSFT)
down 3.24, PeopleSoft (PSFT)
down 2.24 and Nvidia (NVDA)
down 2.19.

 

 

Paying attention to the analysis in
TradersWire will give you a head start on your trading, so you
will not hesitate when it comes time to take advantage of the opportunities the
market offers.

 

When momentum
gets built up in a stock, it sometimes takes a little while to slow
it down.

10:09:04

Plunge Alert

Genesis Microchip (GNSS)
has dropped more than 4 points in the last half hour. GNSS is currently down
4.39 to 61.79.

I still get email from time to time
asking me why we post alerts like the one above. “What good does it do me,
to know this after it has moved? I need to know before it happens!”

Let me assure you, if I knew how to
look into the future, you would not be reading a column in this space written by
yours truly. I would be out on my island somewhere and you would not see hide
nor hair of me.

What this alert does do, however, is
alert you to a stock to take note of, because there is action here.

10:17:43

Intraday Setup Alert

Genesis Microchip (GNSS)
is now pulling back from its intraday low. GNSS is now down 3.63 to 62.55.


After triggering out of
the pullback from low in the 10:17 post, the stock goes on to form and fall out
of a Slim Jim as well.

Our goal is to point you
to where the action is. Get in the habit of following a stock for patterns and
setups and develop the patience to do so. Trading is not always an instant
gratification endeavor.

 

It is important for daytraders to take a look at the daily chart as well. In
doing so, they will spot opportunities to take profits intraday.

 


09:47:09

J.B. Hunt (JBHT)
is rallying out of a pullback . JBHT has a TradingMarkets.com
3-month RS ranking of 93. It is up .86 at 24.95.

 

 

Now that the stock has cleared the resistance at the prior day’s
high, you can either use trade through entry at that point, or wait for a
pullback or a consolidation to take place.

 

 

Learn to get time frames in sync and you will be on your way to
spotting more successful trades.