Hank,
History is relevant. But, my point was that one might be able to have an entry point 20% below today's entry. That's another 20% to gain on the upside, assuming your belief that the stock will go up is correct. (With JDSU printing above 20 currently, a long would stand to "save" 25% on the entry if waiting for the gap to fill. However, if you believe the momo has returned, the entry doesn't matter. Also, if you are counting on a double in the next five years, 20-25% is of less consequence.) In today's market I have big doubts as to a sustained move up. Hence, I'll take my 20-25% profit any day.
But, I expected down today, in a fairly good move. I appear to be wrong (so far). Which leads me to BWDIK.
ham
EDIT: Perhaps the momo has returned. Have you seen JNPR up 6.5 on sh*tty earnings. Shame I missed my entry on it last week. Its starting to look like a double in under a week. That ain't bad money. The 60 minute chart is also starting to look like wave number 5 has begun. But, I often have trouble counting to 5, so WDIK. |
