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serfdom

04/25/06 1:52 PM

#3452 RE: singitloud #3447

Support - .0007
...means it probably won't go below that

Pivot Point - .0011
...means a trend can reverse at that level. Think of a basketball player.

Resistance - .0015
...means we'll have a tough time pushing through that level. But if we do, it's called a breakout and everyone in the world will be buying.

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CSykes

04/25/06 1:53 PM

#3454 RE: singitloud #3447

That info can be used to determine a buy in price or a sell price. Buy near support and sell near resitance if you are a day trader. However, Barcharts is a good resource for DD, but pennies are easily changed by news, MM's and the earths gravity that it doesn't realy do you any good.

To become a better trader here is some advice I can give you.

#1 Always protect your money, never hold a falling stock no matter how much you think it will rebound ( You will know when a stock is falling because of a shake and not from sellers selling once you take more time to understand the market )
2# Buy books, go online, but learn how to read charts !! You might as well throw fundemental analysis out the window on penny stocks. The most I look at on pennies is there outstanding share structure ( even that doesn't matter most the time ) I look to make sure they haven't changed symbols alot and had a bunch of R/S. Almost all my DD is based on Technical analysis .... learn to read charts bottom line.
3# Don't get greedy ... take profits when you can. Sell out a portion of your position and ride with free shares.
4# TRADE pennies ... dont invest in them!!
5# Dont fall in love with a company ... they are just ticker symbols... like a deck of cards if you will.
6# Learn as much as you can about the market, nakid shorting, selling short, hedging.. etc..
7# NEVER NEVER NEVER average down .... that means you broke rule #1
8# Average up !! if a stock is moving add to it ... however never add more than half the amount each time .. like buidling a pyramid .. you want your base bigger then your top.
9# hell .. I could go on and on...

Go to stockcharts.com to learn to read charts
Go to investipeida.com to learn other goodies
Go to pennystocks.org for even more info
Buy Technical Analysis for dummies ... great book

There ya go ... before ya know it you can day trade for a living ... any one can .. just gota know how !

Char