Hope everyone finds this video useful, and please contact me with questions if you're having trouble! Please pay attention to how I analyze the level 2 in combination with the chart as it is developing. The video below will show the level 2 action from the morning of February 20, 2014, as well as a real time chart developing. However, if the stock goes g/r (green to red) or, in other words, drops below the previous closing price, that shows a huge shift in momentum and the odds of a large pullback increase. If the stock can stay green on the day, or in other words stay above the previous closing price, it is a sign of strength and a positive indicator for the stock. Going into a new morning, there is really only one price point that I typically consider to be key, which is the previous closing price. When starting a fresh day, you don't have a whole lot of chart action to play off of. I slowly bought into a position at the end of the day, and I bought 500,000 shares to hold overnight from an average of $0.0215. I liked this strong closing price action, so I decided to take an overnight position. PTOG managed to close up on the day almost 200%, breaking out past the morning high late in the day. However, I don't care about the news, just the price action. PTOG had a very strong day the previous day, mostly due to a sketchy PR about this oil company entering the marijuana sector.
