The Investment books: A Beginner's Guide to Daytrading Online by Toni Turner and her latest swing trading book. It shows how to utilize the market internals, reversal period trading and the Trin/tic and of course the S&P and Nasdaq futures, setting stops, buying off intraday support etc. Don't spend zillions on seminars, $100 books and trading systems that make only the producer rich.
Trading in the Direction of the trend of course but my best strategy would be sit on the sidelines until 10:00 a.m. Some traders go ballistic in premarket and at 9:40 or so shouting about upside and "nabbing" stocks only to have them sell short at 10:00 SPIKE HIGHS.
Prepare for gap ups that ultimately crap especially after earnings reports.
Once your stock appears in the Investor's Business Daily, its time to sell off and once its "recommended" as an earnings play to hold by briefing.com, get out while the going is good. Best time to buy stocks that are volatile is in the "anticipation" before an expected earnings report, mid-quarter report, etc.
chances are very high that the anticipation will end up in a rather strong reversal (see CYMI today for an example or the "INTC anticipatory mid-quarter update") Buy the rumor and sell the news makes good sense.
Prepare also for gap fills. Sometimes stocks are down so much in the morning that traders and even some investors look for a bargain and it gets filled quickly. Keep on the lookout for any earnings reports that morning or downgrades on 'favorite' companies that might cause early buying.
Trading in the Direction of the trend of course but my best strategy would be sit on the sidelines until 10:00 a.m. Some traders go ballistic in premarket and at 9:40 or so shouting about upside and "nabbing" stocks only to have them sell short at 10:00 SPIKE HIGHS.
Prepare for gap ups that ultimately crap especially after earnings reports.
Once your stock appears in the Investor's Business Daily, its time to sell off and once its "recommended" as an earnings play to hold by briefing.com, get out while the going is good. Best time to buy stocks that are volatile is in the "anticipation" before an expected earnings report, mid-quarter report, etc.
chances are very high that the anticipation will end up in a rather strong reversal (see CYMI today for an example or the "INTC anticipatory mid-quarter update") Buy the rumor and sell the news makes good sense.
Prepare also for gap fills. Sometimes stocks are down so much in the morning that traders and even some investors look for a bargain and it gets filled quickly. Keep on the lookout for any earnings reports that morning or downgrades on 'favorite' companies that might cause early buying.
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