Don't trade in a 'vacuum', because it's
an awfully big world out there. When one stock is showing strength
vs.
the broader market, quite often it's part of a sector or subsector that is
acting strong as well.
The 'fever' was on for anything 'Chinese', early
in today's trade. In a continuation of yesterday's thrust higher, this subsector
was showing definite signs of a population explosion by those traders willing to
play this speculative group.
About an hour into the trading day, I noticed a
solid consolidation pullback with confirming volume characteristics setting up
in CHINA. The stock had broken out on huge volume in the prior session, and even
though it was a low priced issue it had demonstrated sufficient travel range to
post an alert in the TM
chat room.
But, CHINA wasn't alone, there were many
others in today's trade, including setups in the likes of Pacific Internet
(
PCNTF |
Quote |
Chart |
News |
PowerRating)
and Sina Corporation
(
SINA |
Quote |
Chart |
News |
PowerRating) that went out in both the chat room
forum as well as our LiveAlerts later in the day.
So, remember don't build a 'great big wall'
around yourself and the rest of the world. You might not be able to understand
it, or even pronounce some of the names, but if it's sparking a trading fever,
the high probability setups are bound to appear during the trading day.
