GOOG and BIDU: Do round number pivots work | stockbee

10/07/2009

GOOG and BIDU: Do round number pivots work


GOOG: Google Inc



BIDU: Baidu Incorporated

Two examples of round number pivots today are BIDU and GOOG.

Jesse Livermore believed in trading stocks near their psychological pivots. One such pivot he liked to trade was stock crossing 100 or 200 or 300.
"Many years ago I began to profit from the simplest of type of Pivot Points trades. Frequently I had observed that when a stock sold at 50, 100, 200 and even 300. a fast and straight movement almost invariably occurred after such points were passed. "
How to trade in stocks: Jesse Livermore


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