| In this issue:
Dear Toolbox Readers,
Last night I sat in on a conference call dedicated to day trading and technical analysis. It was very very interesting and the call was attended by some people you would all know.
One of the participants was a popular veteran CNBC anchor, some professional traders and some regular everyday folks like us.
I listened for about two and a half hours with great interest about how to properly enter and exit trades on a variety of time scales.
Day traders were advised to look for trades on a 1 minute chart but not pull the trigger until they get confirmation on a five minute chart.
That was great advice. So few people actually KNOW how to trade and what indicators to use to put the odds in their favor when entering a trade.
Swing traders were advised to look for trades on a one day chart, but not pull the trigger until they get confirmation on a weekly chart. Once again... SPOT ON!
Longer term investors should look for opportunities on a weekly chart and not pull the trigger until they get confirmation on the monthly charts.
The interesting thing on the call was that the technicians said that they were lousy "stock pickers" and that they are successful by using charts and technique on their trades.
The method they used to find their trades was fairly simple, they run some scans in their charting software and then scroll through them looking for the right kind of chart patterns.
We use chart patterns to for entry and exit points but we have spent the last ten years learning how to "pick stocks"
We run scans too.. but we run ours in the opening minutes of each trading session and we like to find today's big winners, today!
The scans we run spot stocks "on the move" for a variety of reasons, then when we get them we look at the charts to determine entry and exit points and stop-loss placement.
Here is a look at this weeks best picks in the Research Lab.
| The Best Picks from the Premium Member's Research Lab This Week! |
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Momentum
List |
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14.58% |
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5.04% |
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13.53% |
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8.26% |
|
14.02% | | |
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Earnings
List |
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2.94% |
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8.79% |
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9.46% |
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5.59% |
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5.08% | | |
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Breakouts
List |
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4.73% |
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4.76% |
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4.10% |
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5.59% |
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5.03% | | |
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Alpha
List |
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17.34% |
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7.55% |
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14.60% |
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8.08% |
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12.84% | | |
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Low Priced
List |
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4.74% |
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29.83% |
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9.63% |
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22.61% |
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8.43% | | |
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There is no doubt that there were some spectacular winners again this week.
You can get the complete list of picks each trading day. Just Download the Market Toolbox Desktop Finance Portal and sign up to become a premium member... Click Here to Download Today!
Until Next Time...
Best Wishes and Good Investing,
Bill McKinley & Doug Newberry
The Investing Systems Network
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