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Strategies & Market Trends : Daily Scans For Profit
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To: Vendit™ who wrote (53)9/6/2000 10:21:23 PM
From: Tomato  Read Replies (1) of 135
 
Reid,

I was wondering if, in establishing your method, you considered other alternatives, e.g. buying on breakouts to new highs, etc. Did you just sort of stumble upon your methodology and then decide if it ain't broken, don't fix it?

After my time in purgatory (i.e. mining stocks) was up I was going to try the Gary Smith technique of buying on breakouts after 20 days of consolidation. I read him for over a year and understood he had a 67-70%% win rate (5% on wins, 6% on losses), but I must say your technique seems to have more appeal to me--and it fulfills the satisfying concept of "buy low, sell high."

Regards
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