Maybe should have said a break out play. I trade this type every day - today they were EBAY CSCO CTDC SWHC NSIT TMX.... The idea as after some time spend under a resistance point a stock will try to break above it. Sometimes when there is enough volume it will succeed. So we buy on the break out at the line if volume is good and today the market was in rally mode so that helped. Here is an example - bought EBAY at $29. Usually it is a good idea to sell some on the first day as they may not continue and you can then set a sop loss to make sure you keep profits.  |
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