Sunday, May 28, 2006

Next weeks plan


I'm putting together a list of stocks that are very volatile and have large intraday ranges. I'm going to swing trade these stocks based on the current trend and other strategies using morning gaps and volume analysis, while also taking into account any news that may affect the stock. I like the biotech sector because it happens to be a class of stocks that react to news in an extreme fashion and can provide for the oppurtunity to make some quick cash, but also on the other hand, you can lose it just as fast.

I want to stay on the side of the trend. I'm less inclined to go short on the stock unless I see an oppurtunity based on a spike in volume or the sector it is in is tanking, or if it has met resistance and is near the top of its trading channel.

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