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Strategies & Market Trends : Z Best Place to Talk Stocks

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To: Kelvin Taylor who wrote (39737)	5/20/2002 6:08:01 PM
From: Joe Stocks	Read Replies (2) of 53068

GLW- Who knows where the bottom is but today it took out the closing lows of Feb. With a lower low we are still in a downtrend and the movement negates any correction from recent highs. Pick a bottom if one wants but good money management does not have one adding to a losing postion with a chart that looks like GLW's. stockcharts.com[h,a]daclyiay[pb200!b50!f][vc60][iut!Lh14,3!La12,26,9]&pref=G If I try to pick a bottom at least I want the fundies to back me up. I don't see either with GLW. I've made the same mistake with CELL. My long entry is now .40 and I'm in the red now. If it goes below .35 I'll be out but I sure would not add to my loss. Trends are hard to reverse. CELL is an admitted gamble play for me. Like Susan's KM trade (up another 5% today)you don't want to turn a bad trade into even a worse trade. On anoth board I called the bottom on CELL when it was at .78. I was stopped out at .68. These broken stocks and charts can be dangerous. Your right about setting a stop. I just don't like to add to a losing position. I would rather add as it is going up. Joe

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