Michelle B submits: On Tuesday, April 24, approaching 2 PM, the time of the day that I regard as the Period Of Treachery—fondly referred to as POT—I noted MNST screaming red on the low ticker. I checked to see if there was news to explain the decline, and there was none. I quickly called up [...]
Posted by 12 April 2007
Anticipation Versus Reaction, Revisited
Michelle B submits: Peter has queried regarding the merits of anticipating versus confirming/reacting when entering trades. Here is an excerpt from an earlier post of mine: Also note that an additional lot could have been purchased via an automatic buy stop once the resistance at 21 was cleared. Since the price action from the open [...]
Posted by 5 April 2007
Seeing is Believing
Michelle B submits: As my posts show, I am a died-in-the-wool discretionary trader. I would not trade if I could not do it in a discretionary manner. Guided by chart patterns made by volume and price, I have noted in my years of trading that traders have different visual abilities. Frustration at times have surfaced [...]
Posted by 3 April 2007
ICEing on the Capitulation Cake
Michelle B submits: LP commented concerning though he was aware ICE was moving down on strong volume, he did not have an edge in trading ICE as a capitulation play on Monday, April 2. ICE is noteworthy for several reasons. Firstly, it capitulated from a reverse head and shoulders bottom. NOTE: Volume on below charts [...]