Chris,
Basically I use whole bunch of T/A indicators and based on the past price/volume chart of CIEN to determine the support level of CIEN.
Of course, there's marginal error involved depends on the value you enter for the indicators. I came to conclusion that the support level is at 28, or I call it the pivotal point.
My tools might not work if the market condition is going crazy, such as the market we had last week and yesterday. Everything is going up, all the stocks I follow, big cap, small cap, all went up impressively. Therefore it's no brainer picking the ones with the most potentials. CIEN, VIAS, AFCI natuarally follow in that category. What comes down the most will go up the quickest though, especially the popular ones. Check out ERTS, RMDY and some of the others.
Go with the momentum, never go against the market, I learned those lessons the hard way before.
Regards,
Jon |
