Monday, July 24, 2006
Technical Bounce In Play
The technical bounce I mentioned over the weekend is in play. I picked up some KLAC and LRCX this morning and started booking profits as soon as Friday morning's gap was filled. Also picked up some GENZ for a nice continuation play off of last week's bullish move. Charts later this evening.
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2 comments:
Hi Jamie
Thank you for the information on the premarket and mentioning my name. That was really great. Briefing is the way to go.
I have an other question. I reread all your emails you sent us on your trading style. Do you have a anything written down where you provide a step by step lesson on how you use your support lines and details on how how you go about the actual trade after you pick you stock. Do you use pivot points as well as support lines? I would like to know how you go to work and are still able to trade. Be great when I am in school with my lap top. I understand you use breakoput points but how exactly? When my Dad day trades he just seems to know when the stocks are topping, bottoming and reversing and I am learning this as well, but he says you are a very good trader with a excellent understanding of the market and it's risks. He said that your style is steady and well thought out. (my Dad's words) Would I be asking to much by asking you if you would put your trading techniques on paper. If you don't have time I will understand.
Carter's book is great. I am using his three step with my stock charts real time and the squeeze method with my ADVFN, lots of fun.
Thanks for all the information,
Your student,
Thomas
Hey Thomas,
Thanks for the kind words. I'm glad you like Briefing.com. I think its a must when trading the NAZ.
Unfortunately, I've never taken the time to document all of my trading setups and rules. I do like to trade the plan but on days like Monday (unexpected rally), it comes down to instinct and experience. I'm sure your Dad did well on Monday.
One of my favorite setups is the low volatility breakout which is documented on this blog (Sunday July 2nd, 2006). Another is the consolidation breakout pattern which I am fond of using in an uptrending market but which has had little use lately.
I can't promise anything right now as I am very busy, but you've planted a seed and hopefully it will blossom over time.
Good trading!
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