12th May 2010: Today is second test day. Volume is reduced tremendously.
Most sellers sold out and exited yesterday.
Reduced volume on a down day shows strength. If volume can maintain below 3,000 today, it will be a very safe entry for long position.
Very likely the next day will be a very good up day to sell. Even more likely that it will be a breakout day above 1352. Breakout buyers should avoid buying on open and wait for closing to make sure that he don;t get slaughtered! It can be a breakout but you still get slaughtered!
Professional don't buy & sell at market, they buy and sell at a fixed price. Breakout guys can be slaughtered just because of that.
12th May 2010:
ReplyDeleteToday is second test day.
Volume is reduced tremendously.
Most sellers sold out and exited yesterday.
Reduced volume on a down day shows strength.
If volume can maintain below 3,000 today,
it will be a very safe entry for long position.
Very likely the next day will be a very good up day to sell.
Even more likely that it will be a breakout day above 1352. Breakout buyers should avoid buying on open and wait for closing to make sure that he don;t get slaughtered! It can be a breakout but you still get slaughtered!
Professional don't buy & sell at market, they buy and sell at a fixed price. Breakout guys can be slaughtered just because of that.
Suggest today: best time to go long!