The Ambitious Trader: Stocks, Trading, Investing..My Ambitions as a Trader and Investor

This is a one way ticket that takes you on a wonderful journey into the vast world that is the stock market through my eyes, my point of view.

Thursday, January 07, 2010

Even "Perfect" Setups Can Fail

Last night, as I was doing my research looking for trades for this mornings session, I came across some stocks that seemed to have perfect chart setups. One of these was AIXG. I was almost certain that this stock would perform well. The stock closed at its HOD with high volume the previous session. And yet, because the market is acting indecisive, the stock has failed to perform well. Of course, this can all change. By the EOD, the markets can go green, and for all I know, the buying pressure may start up in AIXG. In order to function quickly and decisively, it is important to keep a narrow watchlist of stocks. Keep tabs on them and watch them near the close. Even if they haven't performed well earlier on, they may catch up by the EOD.

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