I am looking to short this stock because it has risen way too much, too fast and in such a short period. it has risen 68% in 4 days. It is also going into overbought territory.
I am looking to short this stock because it has risen way too much, too fast and in such a short period. it has risen 68% in 4 days. It is also going into overbought territory.
I gotta learn to read what I wrote, i didn't follow my own advice DAMNNN, this would have been a great short today.
now it's building an accumulation base for a short term buy.
With the help of a stock screener such as http://stockcharts.com/def/servlet/SC.scan or equityfeed, I look for stocks that have declined over a long period from their highs and have started to show discreet accumulation, increasing volume (large block orders) and rising momentum. This to me is a bullish sign. I don't follow news articles and purposely avoid the deceitful financial media. Their purpose is to trick the retail trader into buying market tops from the professionals.
Learning the skill of stockpicking is an essential pre-requesite to making money and takes many many hours of practice and trial and error.