Monday, November 16, 2009

Price is only part of it.....

Excerpt from newsletter:

And for those of you who can't help but to stare at the alert price and count the pennies up and down -- here's something that might help. Take the grid lines off the charts. This will keep your eye a little bit less focused on the price and more on other parameters that are just as important like volume, and EMA (base).
When you take the grid off then it's easier to see what's actually happening than worrying about whether your stock is a couple pennies over or under the alert. Take the grid lines off and you'll start seeing more clearly -- a stock basing nicely near the number and on top of the EMA. Stop worrying about entering at the alert price -- enter wherever the stock sets up around the alert price, be it 50 cents under or 20 cents over. Don't just use price -- use Price /EMA(and pivot lines)/ Volume combined together to better your entry and exits.