K-meister,
I don't disagree with a thing you said, and will defend to the death your right to say it. There, I feel better, too.
With one exception (which may swallow the whole). To me a good stock is a stock which moves quickly, perhaps even violently, in the direction I discern by carefully monitoring everything I can out of the charts. AMD may be crapola and its fundamentals may, er, suck, but that is neither here nor there to me. Every stock chart tells a story, and every pricing line on a chart can only do one of three things: stay just about the same, go up, or go down. Dabum has made some great calls on questionable companies: KM RAD PVN. I've been along for the ride, and it's just as good to make money on RAD as it is on a blue chip, such as GE (whoops, bad example). Boeing may be one of the world's greatest companies (jeez, they make airplanes, how could anything be more complicated than that), but it's damned hard to make any money in their stock, at least it has been for me.
Sometimes I feel like a weatherman (hokay, meteorologist) trying to read these charts--you can do it but you never quite know all the high pressure fronts or whether the tropical storm brewing off the coast will die out, continue to brew or turn on you with a vengeance.
Other times I feel like a fisherman. When people make bucks on WCOM the other day, I felt like I was out in a boat and suddenly folks on the other side of the river started landing huge salmon. I wanted to rush over and land a huge salmon, too, but instead stayed on my side of the river.
I think AMD could be an excellent long play, btw, but not until the chart tells me so.
Incidentally, your NBR is looking technically very strong and ready to surge some more. I wish I had followed my own advice $10 ago and bought NBR when we had the original discussion and it was a $33 stock:
stockcharts.com[h,a]dhclyyay[pb10!b50!b200!f][vc60][iut!Lk14!Lb14!Ld20!Lc3!Lf!Lh14,3!La12,26,9]&pref=G
If I had any sense I'd buy it now, but I prefer to angle for stocks which have more upside run in them. Although who can tell where NBR will stop. I had a ton of it from the old days which I bought for 21-24 and sold at 59.
Have a good weekend,
Kb |
