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Re: Garyst post# 60201

Tuesday, 10/04/2011 8:27:23 PM

Tuesday, October 04, 2011 8:27:23 PM

Post# of 162057
I agree. The daily candle is the first thing I check before I trade a stock. That's why I think painting can be so important. A five dollar trade can completely change the chart. Today we closed with a dragonfly doji which suggests a trend reversal upward.

Also there are a lot of new traders out there who look at the computer generated sites such as American Bulls. A small paint at the end can change their recommendation.


ETA: There's a lot of other things to take into consideration too, but a quick glance at the chart is always the first for me.

Make your own decisions, do your own DD, know why you bought a stock, know why you paid the price you did & know your exit point.