Sometimes...I get the impression that you forget the fact that real life people control the markets. I think you are very good at technicals but don't understand this and how events such as Alibaba have a real impact on a stock price. Technicals TRACK REAL LIFE TRADERS mentality. That's it. Nothing else to it. So you can't look at a chart which is a representation of emotions and actions while at the same time dismissing other emotions and actions. Just something for you to consider. You can't be blinded by technicals and ONLY what the chart says. Dig deeper to see what actually makes all those little lines on the chart. I'm certainly learning something every day if I'm lucky and it's just my 2 cents.
They want to take business from NASDAQ. No way will the underwriters let this go down.
Can someone please kick the stool for me?
This puts such a HUGE spotlight on The NYSE and investment banking. They will go broke before they let Alibaba not work tomorrow.
I'll watch the "4 day" religiously if IT tells me "Today, Micron is going to move up $1 1/2 " like it did yesterday. If Micron traded lower, the average would have obviously come down too. No way on earth did it say it was going up like it did. What a moving average CAN tell you is that the direction of a stock has changed and can signal a buy ONCE IT CROSSES ABOVE whatever average you favor. It's like looking at a head and shoulder pattern before it forms.Until it forms it's anyone's guess if it will. When a stock is on the move for whatever reason it's useless to look at averages other than momentum changes which is what most traders are looking for. If a stock is range bound then it gives you an idea of where it has been trading. You actually have things backwards by the way....a stock DOES NOT trade towards any moving average. THE MOVING AVERAGE moves to the stock. Someone actually using a moving average properly would have actually bought yesterday once it crossed through and above the average which showed a momentum change. You would then swing trade until it dropped below the average showing a shift back to the downside. So if I recall correctly, the 4 day would have been around $21.22 or so. Once it traded above there by a few pennies and stayed there to show it clearly crossed you would buy. Once it crossed back through you would sell. The issue is it certainly isn't a guarantee in any way.short term day traders would never use a 4 day average. It's too long. Long term investors would never use it either. Too short. There is more than 1 way to skin a cat.
If a stock is range bound IT IS ALWAYS AT SOME POINT GOING TO GET NEAR ITS MOVING AVERAGE. 4 minute,4 hour,4 day,week,month. We effectively have been trading from $30- just above $32 for a while now. It's time for a breakout but no clear signal is showing one. The idea is earnings and interest next week will get us past this range.
Let's get through the next few days...
ZERO concern. Fed announcement! Market Makers and investors take a step back for a minute and liquidity disappears over a short period.
No surprise that Yahoo is looking weak again.....
Because for every 1 trade you do I probably do 20...Micron was more of a distraction today since Im playing Yahoo so heavily. I scalp the market. Ill do a trade for 3 cents if I can. At the end of the day I add up all the small profits and usually go home flat. If I was actually following Micron today, I would have sold much earlier than I did but participated in quit a few more trades.on an active day I can do 200 plus trades but often 20-50. Risk is way down trading the way I trade.
I think people just need abit more convincing that profits are real,demand is high, and no big capacity is being built, when this becomes clearer, Micron is going to rocket.
No new money coming into markets..Average Joe still afraid of markets. Money is leaving investments this week to play Alibaba. I didn't really see this coming but you see it across the board with tech/growth stocks. Next week should be interesting for Micron as Alibaba hype will be over and investors look to earnings.
I didn't see what you wrote..I was joking about being perfect with your trade and making ,10 but a Ill take .10 all day long. X 5000 shares = $500.