you are right about that, also, better playing a stock after break out, those are easy. It's the recovery from a blow off or peak like we just had, that are harder for me. Not only is there a human emotion involved ( I have this large gain, why not take it?), there is the lack of good technical signals. For example, if QCOM where to make it back close to the high 390s, 398 and fall back, I would say the recovery had failed, that would be easy to see. But now as it is recovering it is much harder for me to say near term QCOM will be moving past the old high. Today I would say, we had a bounce from an over sold condition, and we are no where out of the woods. If today's action happen and the rest of the market was down or ho hum, I would say, that today's action was strong and we would likely move higher.
Greg |
