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Strategies & Market Trends : Technical Analysis - Beginners
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To: Monty Lenard who wrote (11570)2/12/2001 6:27:10 PM
From: Trader X  Read Replies (1) of 12039
 
It's appealing from many perspectives, MONTY.

As far as I was concerned, it was confirmed when price hit 39 and held support at 38 1/4 on the retrace. That was my long entry position. So no, it was not GAMBLING.

From a longer term perspective, one can still make money off the close price if he waited for full confirmation. This should be the beginning of a trend reversal and a retest of $46, so there's enough upside for a swing trade still.

The 10% gain today represents an appealing situation even if you didn't get the 10%, because it indicates that the trend is reversing. I'd say this is appealing unless you were short.
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