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Thursday, February 17, 2011 12:52:29 PM
Great advice!
I also like buying dips, or buying stocks that are falling in price so that I can be in for the bounce. L2 is VERY helpful in that regard. By watching the bid closely, you can see where MM's are piling up, waiting for the price to get down to their bid. Usually it is best to look for that block of MM's because if they have anything to do with it, that's where the price is headed so they can get their cheapies. I'll usually set my buy just one tick above that block of MM's who are waiting at the bottom like a swarm of sharks...just to make sure a get a few shares before the feeding frenzy
I am not a promoter or professional stock trader. I'm a regular guy who enjoys stock trading to make (or lose) a few dollars. I am only responsible for my own trading foibles, not yours...do your own DD.
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