I am only going to watch one stock.
C.
The news is that US government is guaranteeing the assets of Citigroup. This means that C has a great potential to rally tomorrow. I think C will gap up tomorrow and continue the run. It should break 5$ at minimum. I will be watching pre-market movement very closely.
Why only one stock? Because I was sick on Friday and Saturday and I couldn’t work on my new strategy for trading or the calculators. I think I need more tools, more research before I do another trade.
Happy Trading.
RJ.
9 responses so far ↓
1 Allen // Nov 24, 2008 at 7:35 pm
Thanks for your tip on Torello’s blog, great to have somebody like you around!
2 RJ // Nov 24, 2008 at 7:40 pm
Allen,
I am also a beginner like you and would share whatever I have learned. I will create post about day range support today evening.
Good luck.
RJ
3 iL Torello // Nov 24, 2008 at 7:44 pm
RJ…how’d you do today with C? Every possible play had no available shares on TOS. I don’t remember it being that difficult.
4 RJ // Nov 24, 2008 at 7:54 pm
C was too erratic for my taste. Went up way too much in pre-market. Crashed in first 30 mins. I didn’t think it will run up again. I don’t want to trade if I am not 100% sure.
RJ
5 charlie g. // Nov 24, 2008 at 8:00 pm
Hard to shift gears when the market does such a u-turn like this. thanks for saying hi to chat. going to try to trade on wed. what a wild time to dip my toe in this crazy financial world of stocks.
6 anonymous // Nov 24, 2008 at 11:33 pm
“I don’t want to trade if I am not 100% sure.”
Wow, if you could be 100% sure of anything you would already be making tons of money in the market instead of blogging about the various stuff you are experimenting with.
The only thing I am 100% sure of is that the market can go up, down, sideways, or halt trading.
7 anonymous // Nov 24, 2008 at 11:49 pm
“I think I need more tools, more research before I do another trade.”
You might be stuck in analysis paralysis. You can analyze fundamentals and technical indicators to death, and calculate probability of a stock reaching an exact price based on cloud patterns in the sky down to the 10th decimal place. But nothing can help you learn trading other than actually trading.
8 RJ // Nov 25, 2008 at 12:18 am
Anonymous,
Thank you for your input. When I said I want to be 100% sure, it means that I want to be 100% sure that I have studied the stock, I have done my DD and I have verified that odds are in my favor. If I don’t feel 100% sure that I have done my homework about a trade, I don’t want to do the trade.
9 johnnyvento // Nov 26, 2008 at 1:08 am
Ramta I need you to post a watchlist for days when I get home too late to do my scans… it’s 9 1/2 hours before market open and I haven’t even started scanning yet ugh
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