A gap down on weak tech earnings with solid follow through until noon, when the NASDAQ came into pivot point support at 2675. The bulls stepped up once again, as they did on Wednesday, and prices rallied 20 points back up to the prior pivot, before waning into the close.No economic data until Wednesday, July 25th.
A big earnings week ahead will likely lock in direction more decisively, notwithstanding a mixed bag.
2 comments:
Jamie,
Thanks a lot for your help the other day with my questions; your helping me out (and I'm sure others) immensely. I'm trying to keep you on your toes 8-) I usually have about 20-25 stocks that I look at during the trading day. I have alerts on only 2-5 of them. In your opinion, do you think that is a descent number? In addition, how many stocks do you have during the day with and without alerts? Thank you again.
Thanks Alex,
I have about 50 stocks on the watch list, half of which have alerts at any one time. Many of the alerts are on either side of NRBs, so basically, I'm looking for price expansion after a period of narrow range trade. The balance of the alerts are usually set at PP levels. My watchlist is comprised mainly of stocks that gapped up or down on earnings.
If you only have 2-5 alerts at a time, I imagine you're setting them for a breakout to new highs or lows. You could capitalize on smaller moves by setting more alerts.
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