posted on Jun, 2 2010 @ 10:03 AM
well pre-market told us to expect a upward bias to the market -
when you trade the market we use Support and Resistance and
the amount of money coming into the market is sufficient to keep a postive tick to the market - now I look for support and resistance points,
typically the market people in the know buy at .13th cent and .87th cent and use the .00 to exit ... retail people or FISH buy on the .00$ or .25 or
.50 price points. (those who buy on these points - well fish, go catch'em)
anyway, support is a area in the chart where the market declines but the stock refuses to go down any further (BUY SIGNAL on Stochastic W,D,15)
the current resistance points are 10,080 (DOW) and as you can tell we keep hitting it and falling from it... so that is resistance.
now look for the resent lows and notice that level is support. a point to where the stock stops falling.
now, using the Weekly - Daily - 15 minute Stocastics draw a flat line on all bottom points and do the same for all high points.... is the stock
stepping up or stepping down...? down, go to the next if your looking to go long on a Key Reversal.
its a mind game - where they keep filling you with crap so you dont investigate before you buy ....
beware the media - they will steer you wrong one way or another. (you will do much better by turning the box off and just listen to the stock you want
If you found this information helpful - please donate to Phil Grande's Charities. Boggy Creek Camp, orlando., american cancer society "rocks"
St. Jude childrens hospital.
in addition, what business does not have employee's, inventory, thats right, its the perfect business - one click and your liquid - you cant do that