to that point overall so far the rate of descent has slowed
which itself is not a buy signal but is generally necessary for
bottoms (unless they are V). Know yourself and what type of
trader you are. Scalpers might want to start looking at this
slowing as a place to start trying to catch the knife. Swing
traders might want to wait for a more clear pattern on longer term
charts to start initiating positions but definitely start your
shopping list of names. When I do a list I like to mix names
that I like because they have held up well ( i.e. an AAPL, IBM)
along with names I think could now bottom with a better market
(i.e. a GLW). JMHO
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to that point overall so
tick not setting new low vs yesterday.....bullish.....
Posted by tom on 2nd of Aug 2011 at 12:06 pm
to that point overall so far the rate of descent has slowed which itself is not a buy signal but is generally necessary for bottoms (unless they are V). Know yourself and what type of trader you are. Scalpers might want to start looking at this slowing as a place to start trying to catch the knife. Swing traders might want to wait for a more clear pattern on longer term charts to start initiating positions but definitely start your shopping list of names. When I do a list I like to mix names that I like because they have held up well ( i.e. an AAPL, IBM) along with names I think could now bottom with a better market (i.e. a GLW). JMHO