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Stockhaven’s Classroom 5/16/12

Topics include: How to adjust your trading once your trigger PDT, how to catch a bounce, criteria for setting up your watch list and acting on signals those stocks give you, why penny stocks move, how to manage a stock that has gap on the chart… Tickers reviewed: GOOG, VRNI, AXCG, ORYN, CBIS, MNGA, SBUX, ROSG

Below is a text version of the submitted questions (italics represent Stockhaven’s comments):

1.) I know this site is concentrated on trading.
But due to certain group killing me (and me being foolish for not getting out when there still was chance), I am now under pdt.
I am considering changing my direction to take a look at long term investment.
How are you approaching these methods?
Do you read balance sheet and invest?

2.) I have watched the video you on playing a bounce and tried to play one on LUXR when it dropped down to about 2.28 a few days
ago or so.  I saw the big bid support and the ask thinning so I put a bid in above the ask at about 2.30 when ask currently was at 2.29.  No fill
and it bounced up huge so I was wondering if you have any suggestions on how to get filled in these situations when buying and also selling on the bounce
without going to crazy above the ask and below the bid.  Any advice would be much appreciated.

playing the bounce — http://www.stockhaven.com/live-trading-video-playing-the-bounce/

3.) What criteria do u use to have a stock on your watch list?
What main alerts do you use during market hours, and how do u know if there legitimate breakouts?

setting up your watchlist — http://www.stockhaven.com/stockhavens-classroom-5912/

video’s that help in terms of volume & price recognition — http://www.stockhaven.com/trading-university/trading-university-videos/

http://www.stockhaven.com/stockhavens-classroom-41012/

must watches:
a must know trading stategy — http://www.stockhaven.com/a-must-know-trading-strategy/

explaining how to identify support and resistance — http://www.stockhaven.com/explaining-support-resistance-a-must-watch-video-lesson/

setting up scanner — http://www.stockhaven.com/how-to-set-up-your-scanner/

4.) I’m getting confused on how penny stocks move

IZEA has great news but its down for the day, nice volume
SUNV keeps moving higher, great news on 5/3/2012

how to determine if a penny stock is being pumped or its legitimate.

Great call on GWBU, where do u post your suspicious penny pumps or anticipate a great move in a penny stock on the website.

5.) Why does what’s happening in Greece pull our market down so much?  I really don’t understand it.  Greece sneezes and our markets crash.  If Rhode Island has a budget crisis… Europe is unaffected.  So why does Greece have so much weight over us?

6.) when a stock needs to fill a gap, does it need to drop into that gap
area or is it considered filled if its just above it?  Also how so you
know a stock has a gap to fill?

Was wondering if I concern myself too much with gaps being filled.
The one on GWBU for instance just bugs me so I stay out.

video’s pertaining to gaps and how to deal wit them:

http://www.stockhaven.com/dont-chase-why-you-must-exercise-patience-video-lesson/

http://www.stockhaven.com/stockhavens-classroom-5812/

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