Seems like nearly every stock I'm watching these days has a
minor breakout, then reverses course, dips well below the breakout,
reverses course yet again, etc. etc. Few seem to hold their
gains.....even intraday, which makes for difficult
trading.
Have sat on the sidelines for most of these moves, which is
certainly okay, but wondering if I'm just looking at the wrong
stocks. YELP, ENDP and NANO are three I'm watching today -
all exhibit this characteristic to varying degrees.
Is it a case of too many traders watching the same handful of
stocks, causing them to push price higher at the open only to see
those gains evaporate within minutes?
Is it me or is it the market?
Posted by RichieD on 23rd of May 2016 at 02:08 pm
Seems like nearly every stock I'm watching these days has a minor breakout, then reverses course, dips well below the breakout, reverses course yet again, etc. etc. Few seem to hold their gains.....even intraday, which makes for difficult trading.
Have sat on the sidelines for most of these moves, which is certainly okay, but wondering if I'm just looking at the wrong stocks. YELP, ENDP and NANO are three I'm watching today - all exhibit this characteristic to varying degrees.
Is it a case of too many traders watching the same handful of stocks, causing them to push price higher at the open only to see those gains evaporate within minutes?
Yes quite abit of whipsaw
Posted by steve on 23rd of May 2016 at 02:22 pm
Yes quite abit of whipsaw lately so my advice is to focus on stocks taking big volume and/or shift to intraday charts.