L.D.;
I appreciate your comments; although you have some points to say, most of them are inaccurate.
Please don't mess up by saying that I am a day trader. As a matter of the fact I hate and even scold the day trader-- the most foolish thing that a man can do.
All I am posting in this thread with a remainder that it is possible [not impossible) that you might lose money in bullish move of WSP. You can be 100% correct by holding your long-term strategy unless you are 101% perfectly sure in judging what our WSP will do next. Besides this is a speculative play; not 100% sound fundamentally and technically. When our WSP this 1998 bullish rally from that .43 to $3.11, a nearly 800% move, I apply my trading tactics accordingly. Especially I saw that perpendicular, nearly vertical line price line. I exercised cautiously. I proved that I was right by seeing that double tops testing that $3.11 unsuccessfully two times. Our WSP has been heading south from that $3.11 to that $2.71 and bounded back last few minutes to $2.77 at the close.
The ideal long-term strategy is pick the bottom and sell at the peak. What I am saying is this. At this range of WSP is not the bottom not cheap any more. The ideal bottom is that nearly 6 month ago at .43 IN ORDER TO MAKE REAL PAPER MONEY..
I can tell you that I am a technical trader; I would never ever commit to a "BUY AND HOLD" PLOICY OR STRATEGY especially for this penny stocks; unless I make 100% damm sure. I use technical methods {TA] and take advantages of every intermediate swings to a maximum capacity or profits that I could enjoy getting it. On the contractory, I cut losses to a minimum degree like Mr. Newt Ginrich's method cut losses as soon as he detected that this mid-term U S election G.O.P. by losing 5 seats, he knew what went wrong he cut losses immediately by resigning that important U.S. Congress House Speaker.
I could be for sure that I would make more gains than waiting for the long-shot and I would never ever miss any opportunity eith to get in or GET OUT.. What happens if our WSP is no longer able to break that $3.11 as it did in 1996's rally to that $4.00 and lost its rally retraced to that .43. And I observed the chart more cautiously ever when that follow named Nathenac woke me up and made me think twice. I noticed this 1998's rally curiouly enough, it just hit that 1996 rally's down turn rally's NECKLINE AND SOON LOST THAT MOMETUM. As a exsperienced and trained market technician, I act very very cautiously. Howerver I always stay alert and watch closely what really indeed it is happening.
Again, a long term investor do not suitable for this kind penny stock speculation. In the case of 1996 our WSP could GO down from that $4.00 to .43. I could image this 1998 rally could go down to .34. And I am not kidding at all. What do you see differently this 1996 rally and 1998. To me it all speculation. tHE SAME OLD THING OR PATTERN REPEATEDLY AND REPEATEDLY.
Well it looks too long for this postings. Howerever, I will continue to present my points of view as SI talks to me is a good classroom purely for discussion purposes, nothing else.
John Paquet |
