Savvy Stock Picks

Savvy Stock Picks: 1/07/2005

Long Stock Pick (CTSH): Provider of custom IT design, development, integration and maintenance services primarily for Fortune 1000 companies located in the United States and Europe.

Short Stock Pick (PFE): Discovers, develops, manufactures and markets prescription medicines, as well as over-the-counter products, for humans and animals.

Trade Savvy: There is a popular saying among traders: "Plan your trade and trade your plan." This is for good reason. Without a carefully thoughout trading plan there is no consistency in the way a trader approaches the market and thus no consistency in the results. So spend some time and effort writing a detailed plan and treat it as your bible. Check out the free Savvy University article entitled Trading Plan 101. At the very least, write down your initial entry, stop loss, and profit target before each trade. Make some simple rules for yourself and follow them religiously.

Candlestick Colors: If the closing value for the current day is greater than the opening value for the current day, the current day's candlestick is hollow. If the previous day's closing value is less than or equal to the closing value for the current day, and the current day's closing value is less than the current day's opening value, the current day's candlestick is black. If the previous day's closing value is greater than the closing value for the current day, and the current day's closing value is less than the current day's opening value, the current day's candlestick is red.

Please read our disclaimer prior to trading.

disclaimer