I don't like to take sides, particularly when it comes to stocks. Reading Stock charts is more the forte' of my sometimes friend Trader X.
Recently, when it comes to stocks anyway, I've been relying more on Point and Figure (PnF) for the simplicity of it. I don't view my actions in stocks as trading so much, as I tend to hold for years or certainly no less than 6 or 8 months. So, when I see you referring to your trading account as being an account that holds stocks for a few months I suppose we have a totally different point of view.
But in any event. After reading your first post I went to look at a PnF Chart on one stock that you mentioned, WFR. I'd read about it here from time to time and I'm quite sure fundamentally that Andrew knows it backwards and forwards. If I was interested in Stock so much I would consider it. At least that's what I always believed.
Then I looked at the Chart. That is the funkiest looking chart. I think perhaps if you had looked at it you might not have touched it. I looked at it, without judging where Relative Strength may have played a factor....an important consideration, of course....and looked at where the Buy and Sell signals were.
With a Buy and Hold Mentality such as mine, I would not have made much money on that issue either, if at all.
I consider Andrew a friend. I don't know how the other issues fared. That particular stock, however, seemed to me to have had a limited window of opportunity.
Be that as it may. I don't know when it was reco'd, I don't know when profits were supposed to have been taken. I know Andrew used to use a trailing stop....which perhaps you failed to do. What I am suggesting is although AV may have the facts at hand and you research them as well, sometimes a chart just does not support an otherwise fundamentally sound stock issue.
In other words, even if the stock looks good on paper but the chart is breaking down there is always another stock.....Semiconductor or any other sector. |
