Replies to post #2091 on The Day Shorters Room

[Sportsjunkie]

you will have to ask omni,rivet and evo and other guys
who seem to make technicals the most important part
of the way they trade stocks....
they will give you better technical terms on what it stands for..
in my world it either means the stock has consoldated from a run
or broke out from a base.....

charts and technicals were the last piece of the puzzle for my investing,so i spent the last year in a chat room with bill learning about them from him and how to incorporate it into my trading...i was trying to learn on how to maximise more of my position exits on a moving stock to increase my greed factor..

i have learned my instincts still beat what the charts says,but the charts help me add a couple of spots to my bottomline profit by knowing certain resistance spots..on bounce trade for example the charts on the 3,5 and 15 could be horrible but my instincts of where a bounce should be usually changes those patterns and by the time others see the pattern change they are buying the high....

for instance i might have bought 500k shares of a 13 cents stock and in my old program i would have sold 125k shares at .16 as my percentage rule philopshy of position trading,but my knowing that .18 was the first spot of resistance i could get .175 on my first exit..

it is a tool for me,not the law...

[CPTMatt]

Just means that a greater amount of support is coming above the 200 DMA. Signifies a strong uptrend, and some people buy on that, which is why you'll sometimes see a pop when it happens.

LT_Matt