Misheldo, TA may give you few whipsaws, but if you keep your cool and use stops, you still can do fine, yes, I bought at $68-3/4 thinking that the $68 level was breached, and that was wrong, as soon as $65 was breached back, I turned around and took my loss (got $65.5 on a small bounce). I then did three very rapid trades to cover that $3.25 loss. The next range in my TA book was $51 to $63, so following that book, I tried few futile entries yesterday around $55, but went flat for the night (luck, or smelling troubles, when the soxx strengthened with the bu$$). This morning, I suggested a new range would roughly be the $45 to $52 or so, but the premarket mayhem got me to gamble at $42, when I thought the premarket was exaggerating the "problems". Got out in the afternoon at $47 and then back in at $44, and right now I will probably attempt to play the range from $44 to $49 (seems that that $45 was a "bad guess", it was the old $180 which served as a strong support in the past). Mind you, I have my old GTC ($122 presplit) in, but a little higher this time ($32 or $128 on the old one). Thus, TA did keep me from leaving a bunch on the table (remember, my long term trend has been down since the breach of $98), and making quite a little bundle on the bu$$ since it went down through $98, without going short, mind you. This stock is a trader's dream, it is a manic depressive stock, you just pray that you can smell the next decline (last night) and catch the next meteoric ascent. I think we will get one meteoric ascent before the year is out, but what do I know? I am just a turnip farmer.
Zeev |
