in Iraq, need advice

[Runner]

Sekto, If I may make a suggestion. You can search the web for a bunch of sites that have some info on map reading. Hear is just a few

http://stockcharts.com/education/

http://www.trending123.com/patterns/

Hope this helps. Look at it like you would a map. I think spending a lot of time studying the maps and learning how to read the terrain features will only make you a better trader.

[IIC]

I trade and invest in different ways depending on my goals, time and cash available...Maybe someday I'll write a book...but maybe not.

But if I were to give 2 bits of advice:

1) Go with the market flow

2) Buy the strongest stocks in Moving Groups...Not necessarily the best groups...But groups on the move.

Best, Doug(IIC)

[spikefader]

Hey spike, thx for ur help but i have a question on SIRI. Im new to the world of TA and so i wanna see ur take on this...

The fact that the gap up was on low volume indicates that the stock was not over bought and the gap down on high volume shows that investors took profit and the stock was oversold. SIRI posted a 17 cent gain today as a result showing some support at 7.00 on a bit above average volume. Either way, i think a tight stop at 7.00 might be to my benefit. What is ur take on this? Thanks in advance!

OK, for gaps you gotta do some reading. http://www.stockcharts.com/education...pAnalysis.html
Gaps are curious events and my advise is never ever ever underestimate their power. Some fill quicky, some take months, and volume sometimes gives a hint, but no matter how you perceive them, never make any assumptions on what price is going to do around them; but rather look at them as strong support and resistance and trade accordingly. Buy support and sell resistance.

Tight stop? Yep. And I'd only be targeting the gap resistance or gap fill resistance and then go back to stalk-mode while those gaps resolve themselves.

Good luck.