Trading: Look For Stocks That Make Firm Highs And Firm Lows
July 9, 2008 2:11 AM
I have mentioned many times that there are certain stocks, VLO for example, that do not seem to make lows or highs that can be counted on. Many big caps can also be counted in that group, like GE. If you do see a firm high or low however, take note. Just do not count on it to happen.
Point being, if you are going to trade, watch the stock or stocks you have interest in and know how they trade. if they do not make firm highs and firm lows that can be traded, look for another, IMO. IBM is a stock that does seem to make firm lows, but is dragged down by the market. But if it makes a firm low, as it did on 07/01, do not discount it. You will likely be wrong.
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