Hi All
My system consists of scanning for volume spikes and news announcements.
I would generally buy if
1) the stock is below 50 cents
2) The volume spike is worth millions ($)
3) The chart shows that it has bottomed out, or
4) The chart shows that after an initial price spike, it had pulled back and was on its way up again.
5) If after the first 1/2 hour of the price spiking it pulls back to a new low and then rebounds past the initial high then I would buy.
6) Sell out at the end of the day taking back the initial investment.
I am still refineing the system. I basically want to know if anyone else does this to confirm that it works or whether its beginners luck.