Hi Frank! I saw where you were vacationing in Myrtle Beach. I've spent many summers down there. It's about 2 1/2 hours from me. I had a salesman that lived at the beach, so every summer I'd stay with him during the week. I'd work 8 to noon then spend the rest of the day on the beach and nights at the clubs. Fun days!
Speaking of PKD, I have made about 5 successful trades with PKD. I buy at the bottom of their trading range and I sell at the top. I caught the top again today.
I have been concentrating on perfecting (as best I can), the short term trades. Although setting long range objectives is important, you can't achieve the long range goals without hitting short term objectives. By concentrating on short term, I'm having as much, if not more success than I would have if I bought and held for the long term. By concentrating on the short term, I also have less risk exposure.
PKD doesn't look well technically. The relative strength has been meeting a lot of resistance at 50. PKD hasn't been able to break above this resistance point, so it was prudent for me to cash in and wait for the price to drop again.
What really bothers me though is the negative money flows. As I look at the CMF indicator, someone wants out of PKD very badly. When I see the money flows turn up, I'll be back again for another trade with PKD. PKD has been a great trading stock.
stockcharts.com[l,a]declyymy[pb50!b200!d20,2][vc60][iLb14!Lq3,10!Lg!Lc20]
I bought some GW today for old time's sake!
dabum |
