Charting review class follow up - Sat, 14 Feb 2004

hi all

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 accumulation.
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.


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