Al:
Thanks for your comments. I agree with most of what you say and my reason for entering isn't that it's the greatest short term chart in the world, just wishful thinking on my part. <G> My time frames are generally longer, although I played two week positions in March, and am now into week five of my latest. My stop loss is a little looser than you suggest, but then I'm in the money. If it was profit taking bringing it down, I hope it is over and expect that the shorter termers will jump right back in at the drop of a hat, or a drop of just about anything you can name in this market, drop of a Dow,..S & P,...Naz,...$US... and now even a drop of the XAU. So I'm wishful thinking that if all the major indices have now hit resistance and will move down next week and the FTS (Flight To Safety) guys look at the sector, they will bypass the ones with the biggest gains since gold hit low at end of March like GBU +50% or GSC +36%.
Love the background on your charts. Looks better this way, with just one adjustment to yours', time.
stockcharts.com[l,a]wjclnimy[d19910501,20010504][pc20!b50!b100!b200][vc60][iLl14!Lh14,3!La12,26,9]
Regards
Bob |
