A simple strategy that anyone can use, and it goes like this. Put on a 5 minute chart – on a stock you like for the day, turn on the RSI and make sure that you have Volume showing as well. When you see the RSI breach 30 to the downside, get ready to buy. Here is an example from today on CPHD (Cepheid):
Note the massive RED volume bar on 6/29 and how the RSI reacted (waterfall down through 20 to touch 0) & then bounced. A great spot to go Long there (along with the machines).
Now look at today. A similar waterfall down through 30 to touch near 5 & a quick bounce. A great spot to go Long.
Rage against the machines.