3SOF

Hi Ares
You do a lot of buying and selling the same stocks on the same day and do it more then three times within a week. This fits a pattern day trader , they don't hold a stock overnight or most don't.
Just wondering

Here is the website for tradefreedom.
http://www.tradefreedom.com/en/tradingprodfees/accounttypes.asp
They used to offer deals if you traded more than 30 in a month.
As much as possible I don't want to hold overnight anymore.
I got burnt a few times holding stocks that I daytraded.
Realized later that the stocks I were buying before were mainly going down(downtrending).
I found out the the strategy that was mainly being used by the daytrading school was a dead cat bounce!
We looked for stocks that were down at least 50% in the premarket, looked for support, let market orders flush, get in as soon as strength is seen (bouncing off support),sell as soon as it hits close to perceived resistance(unless level 2 and the time and sales says otherwise).
The potential for a short squeeze was very high, but these stocks are very risky - especially if you don't have the self control to exit the position when you realize your wrong.
Being wrong in the analysis is bad enough - holding stocks overnight that are on the way down is worse.
No wonder our teacher kept on telling us - NO OVERNIGHTS,NO OVERNIGHTS!
At that time, I was very stubborn(probably still am).

I'm still considering the 3SOF portfolio though.
I believe that the stocks in there have been filtered well and I am planning to give it  a shot.
I'm in the process of transferring my RRSP from TD Waterhouse to tradefreedom and probably use that for long term stocks.

Hi pnguyen652004,
I haven't taken out any money from our tradefreedom account yet.
I'll phone them later on to find out.
The fee is starting from $9.95

These is what's been running on my mind regarding BRCD's behaviour.

1) Almost everytime there's a block trade on the green or blue, the price falls shortly
2) The momentum low entry seems to be working better.

premarke most active:
LVLT,AVNX,STTS,SUNW,ONSM,BRCD,IMOS,CHTR,ARMHY,GNLB
Stalk list: IONA

Today, my wife actually sat down in front of the computer.
I showed her what I normally do.
We had a deal that she's going to learn and concentrate on stocks if I pursue and apply for the transit supervisor position.
I told her to paper trade first before using real money.
We were looking at BRCD today.
I told her that my buy target is 8.60 but have to see first if there is really support there before getting in.
I also told her that resistance is in the 9.12 area.

So far, BRCD has been behaving as expected.
Everytime a big block on the green gets printed, the price goes down shortly.
Let's see if it behaves the same with the momentum low.
Currently, the price is below the 50ma and  8ma of the hourly chart.
$8.60 has  a horizontal support with the hourly 200ma backing it up.

premarket most active: IMMR,ARMHY,LVLT,ALTI,SUNW,SUPG

Stalk list:
BRCD: perceived support = 8.60
IONA: perceived support = 5.48

In IMMR: 9.71
went in 1 cent above 9.70 support of the 1 minute chart when it pulled back.

Out IMMR 9.80
Didn't like the doji followed by a red candle that broke the doji's low and that it opened and closed below the 8ma.

IMMR didn't seem to have enough volume to push it to the upside.
Let's see where we could bottom fish this.

I see strong hourly support at 7.41 (wishful thiking that it will go down there, but if it does...)

Poll: Is clock watching (time and sale prints) reliable.

1 voter said it's not.

If time and sales is not reliable, how reliable would the price and volume chart be?

Price and volume is not supposed to lie.

Has IMMR found support at 9.15/9.16 area?

support: 9.15 (close of hourly premarket candle, followed by an open at 9.16 by the next hourly candle)

support: 8.03 (open of premarket's hourly candle)

support: 7.41( congestion area)

In IMMR at: 9.19

9.12 low so far looked like a false breakdown.
if this gets broken, next buy target is 8.03