A.M. NOTES
SAY - The stock was up yesterday, the stock came out of the gates fast this AM too. The Parabolic stop has been moved up to $22.89. The activity this morning looked like institutions buying in some huge blocks. The volume charts looked impressive.
P.M. NOTES
The MACD is basically a refinement of the two moving averages system and measures the distance between the two moving average lines. Signals are taken when MACD crosses its signal line, calculated as a 9 day exponential moving average of MACD.
The indicator is primarily used to trade trends and should not be used in a ranging market.
First check whether price is trending. If MACD is flat or stays close to the zero line, the market is ranging and signals are unreliable.
Signals are far stronger if there is a large swing above or below the zero line. Flat MACD signals that the market is ranging - we are more likely to be whipsawed in/out of our position.
SAY - up today +$0.52. Day started off strong and then pulled back a bit. EMA all trending up. Stock had some selling pressure at the end of the day. The stop will be adjusted tomorrow.
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