July 29, 2004

I recommend buying with a stop

I think it is a good bet to buy with a stop order at your defined risk level. Buy an uptrending stock. Here are some to watch:

TNH , VIDE, ZEUS
Also, I'll try to check these later - anything on this list that is turning back up to make new highs is a good bet with the way the market looks now.

TMR has a slow and steady up trend - looks good for a retirement account or just to hold for years (as long as it doesn't break that trend)

watch these for shorting:
MVL ,ULBI

If anything unexpected happens, like a big drop and the market turns down and the QQQ breaks $34, start shorting. It is still a sideways market as long as the QQQ trades between $34 and $38, but it is at the bottom level of the side turning up.

I day traded AMXC today and made $200 - chump change - for hours of stress and stomach churning.

--------

Trackback Pings

TrackBack URL for this entry:
http://WWW.UGLYCHART.COM/cgi-bin/MT/mt-tb.cgi/513

Comments


Post a comment




Remember Me?




(you may use HTML tags for style)