Thursday, July 9, 2009

HUMANS ♥ ROUND NUMBERS! ~ Canadian Solar Inc.(Public, NASDAQ:CSIQ)

BUY at "round numbers" *long* CSIQ @ $10 ... CSIQ a.k.a. "sea sick"

ROUND NUMBERS represent price areas where resting orders are more likely to be found and where price action is more likely to provide support or resistance. As long as people are involved in trading this phenomenon will be present.

RULE #10
~ BUY on ROUND NUMBERS or breakouts through round numbers. (don't buy at 18.96, buy powerful break above $19) *see HK

BOTD "the fisherman" ... closed our "Deadliest Catch/MAGIC 87" SPY 88 calls for 40%+ profits. *

*long* AKS @ $16

... just the common stock (RULE #87) , with tight stop at 15.79

RULE #10b ~ Place stops where they are less likely to get HIT ... slightly below round numbers.

p.s. ... Faith in FLOYD! *long* HK @ $19


BUY ON THE DIP said...

the first bounce off of the round number support or resistance is usually the one that is the best and most profitable bounce.

Anonymous said...

I was gunna put up MJs "human nature" video, but figured you've heard enough Michael lately.