Idea I recently came across $MU. A super liquid tech stock that trades $100+ million per day. I quickly realized that this stock had enough range that if I were to start trading 100 shares I could make $25-100 bucks per day. That's a raise that I don't have to go ask my boss for ;) so I was interested. Around this time I also began closely following the Nasdaq 100 index and noticed the correlation that these two had.
Strategy: If I keep up with all the macro events affecting the global markets which in turn affect the US indices; I should be able to predict the direction of $MU and make a few bucks each day without resorting to trading pennystocks.
Results: It works. While I had two events that took me by surprise it's clear to see that if I pay close attention to news events it's possible to make fairly consistent returns each day by trading a single stock.
Caveat: MU has its own news events that affect its price. Knowing when such events will cause a deviation is definitely an art. There where days when I didn't trade at all because I was unsure of how the market would react the following day. MU also experiences its own levels of support and resistance which keeps the price from going further. Hence why I've had to look elsewhere for similar opportunities that yield "easy money". Lastly, if nothing else I've found tracking the indices to be a very useful skill.
Submitted July 21, 2016 at 08:26PM by n2yolo http://ift.tt/29ZLy7o
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