thanks for your attendance at the recent charting review class. Already
some success stories passed on to me by a few of you from there, very
pleased to hear it; abi to mention just one.
Your attendance includes email follow up, this is the first one, as an
example of what to expect. But remember; the trading is your
responsibility. These emails are not an invitation to trade, but are
sent as a follow on to classes to teach you how to chart well, so you
can fill the portfolio with winning stocks.
biotech stocks should be watched by all traders. Good volatility in
many of them. I watch especially for any periods of sideways movement
in an easily identifiable range. A break upwards, buy, a break lower,
short sell if permissible. See abi
In particular, breaks into all time new highs must be waited for, these
can be especially rewarding, sell on the news as a trader.
the ntc.gif highlights a good pattern to watch for, buy each new high.
A classic Gann break of accumulation - catch these, it really is all you
need to look for. So watch bsa for a close above 26 cents.
some stocks to watch;
I am watching rel for any break above 14.5
ann > 7.70
itc, though i don't like the look of previous weekly tops at 6.9, 7.5,
7.7, 8.3, and 9.4, so I would leave that trade for someone else. I
hope you can see that. It doesn't make for a potential *clean *break of
opi (wait for the close above past high at 26)
and remember, there is always another plane leaving the airport
i hear Sanford reports the Aust market as the safest in the world, ie
the least volatile. Damn it.
ABI - PDF
NTC - PDF