Canuck SmallCap Trader Blog: Time to buy/sell

Friday, December 3, 2010

Time to buy/sell

If your using Level II - about 4 hours+ into the trading day as a rule of thumb, can be the time to see intraday direction...

Monday - usually down day - pick up favorite picks under pressure
Tuesday - usually down day - pick up favorite picks under pressure

Heavy selling on those days so far have reversed Wednesday for strong picks.

Wednesday - usually strong bullish day (lots of distribution though) maybe sell something... ?

Thursday... still bullish, but pressure overall is a bit more effective... possible buy/sell day

Friday - can still be a bit bullish, but possible to buy something under pressure after the first 4.5 hours of the trading day from weekend sellers.

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1 comment:

sailortonyDecember 3, 2010 at 4:38 PM
Thanks a lot for your useful tips.

Did you decide to stay with EVG?

I did decide to continue. I think Grandich would have given a business justification if there was one. My take is that he overextended himself very early on by recommending so firmly EVG thereby putting untenable pressure on himself.

Tony (also "lost out west"!)
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A Swing Chart Trading System Gorilla Style

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Breakouts break the following rules... If a stock breaks out, bollinger tags or touches are ..NOT.. tops or bottoms. However:

If a stock is ranging..., Bollinger touches are..., in most cases, a top or bottom that is consistent. Bottom touch (bullish)

Top touch (bearish)

If a stock is down trending... a sell the top strategy (shorting)... Upper bollinger touch is adopted.

If a stock is uptrending... a buy the dip strategy...Lower bollinger Touch is adopted.

If a stock is ranging..., Price breaking through a top or a bottom bollinger line..., is a top or bottom signal to trade (most times) in or out. We look for up side trend breakouts to hold.

If volume is up...breakouts can be runaway in either direction.

There's the conundrum... look to supporting volume and supporting indicators to make the sell or buy decision.

We like to position for long holds off of lower bollinger dip picking entries, if possible.

We buy pullbacks (bottom pick) or catch dips in rising trends and continuations. Continuations emerge out of studies that are at first glance looking like tops.... Only rising trends produce new highs mistaken for tops. Dip picking starts there.

Keep in mind Small Caps tend to be either over-bought or over-sold. Volatility plays a part. Look for some kind of solid quality in the chosen stock. They chart and respond to technical analysis better. Quality protects from fraudulent issues. No guarantees though.

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