Sunday, November 1, 2009

Tim Sykes USEG trade, Oct 22, 2009

USEG day chart Sykes
As you see in the immediate history of the stock, what it did a couple of times was making a big step upwards, then taking a breather for three or four days, then making another big step. This is what Tim calls stair-stepper in his educational materials. According to the info on the same site, Tim bought at $6.12 and sold at $6.09 -- a small loss. Typically, such stock develop flag formations and it's hard to predict the next big step. It seems you can only be sure once you are inside the big step, which is something you can in principle detect intra-day by a combination of large price and volume jumps.

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