1. If you're looking for buy points, look for recent highs.
2. Buying pumps is risky because promoters sell into every single spike.
3. When you have a big spike, it's very hard for it to stay up, because everyone is looking to sell after buying. People don't like to buy a stock that's very much up in a short period of time.
4. Once the main stock that's driving all the other similar stocks and sympathy plays starts crashing, all the sympathy plays will get crushed too.
5. You don't want to short a recent spike right as it dropped 10 cents, because stocks don't go straight up or straight down.
6. Look at high time. If a stock is going up well through 10:30 am, they're going to keep well up.
7. If the stock is volatile, but you don't see a good trade on it, you want to check back on it. Maybe it will show you the right setup later.
8. LUPD/M - volatility halt, usually 5 minutes. Look at Nasdaq halts website.
9. The more time a stock tests support, the more chance that it can break it.
10. When a stock is a supernova halted, it will usually open down.
11. Your fills on Nasdaq and NYSE should be instant. If not - you are using the wrong route or the broker is fooling you.
12. When you're under SSR, the stock starts to weaken, breakdown, everyone starts to short. If you're long, it's the best sign to get out.
13. If a stock is very volatile you can anticipate a morning spike, buy a little amount of its stock. If it's not volatile, you gotta wait for the breakout.
14. You need to build trust in your ability to take yourself out when things aren't going right. You need to reach to the market without emotion, or with as little emotion as possible.
15. If you find yourself constantly changing something in your approach to the market, that would mean something is wrong.
thanks. very helpful !!
Excellent, Thank you
Mazlina: Can you ask michaelgoode's, Can he give two example for the rule #15? ( 2_ Q: in the rule #12: what does he mean by holding and get out? if thr person bought it and need to get out, When is this Mail pump or real company? thanks
#9 is a 2 edged sword. It depends on other factors. The more a price gets tested and holds the stronger the trend. The question is WHY the price keeps getting tested. Sometimes it's because there are institutional investors that have large standing buy orders at certain ranges. $OPK Is a great example. 9.02$ has a huge institutional support.
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