Thats how i view it, its all about the momo... If a stock has light volume and a wide spread, ill Bid sit. Theres no hurry.
If a stock has interest, isn't moving very fast, but could break loose at any time. I might buy a partial at the Ask just to get in it, but then also place an order on or above the closest support level.
For example, i put an order in for .06 last week. I actually got filled at like .0598, but i put the order in at .06... When i placed it, the Bid was around .062-.063, but i eventually got filled with a little patience.
On Friday, this stategy would not have worked. The people waiting on the low Bids got nothing and the stock gained 20%.
I am already IN this stock so i did not feel the need to chase the Ask, but if i was entering for the first time i would have likely slapped it because the intraday charts were indicating that we were going to move and sellers were drying up... Then when factoring in the upcoming catalysts, it makes the TA much more trustable. One validates the other.. Hence this TA post: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=131467301
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