Day traders! How do you pick the next days open? How do you read it? Most of a days profit is made on open correct? SO you would be buying the previous day.
Case Study - BOL - I have been watching them lately and the last 5 days would appear to be a sell off. It has gone lower every day but it has opened higher than the previous days close every day.
However Today BOL opened 1 cent higher than the previous days close and had a high of 3.58 but closed at 3.55. I am a total beginner to day trading, what would the experts pick? If a stock closes lower than the high but still closer to the high than the low is this an indicator the stock may open higher tommorow? If it closed closer to the low of the day would that indicate a reversal of trading during the day and a lower start could be expected?
27-03-2007 $3.530 $3.540 $3.500 $3.500 680,176
26-03-2007 $3.550 $3.590 $3.420 $3.510 733,652
23-03-2007 $3.570 $3.600 $3.520 $3.540 909,267
22-03-2007 $3.610 $3.640 $3.560 $3.570 1,322,462
21-03-2007 $3.640 $3.680 $3.570 $3.570 1,557,839