Hi Terry. Thanks for the reply and the compliment.
One thought. I've no opinion about how important a bottom is coming. Or how long it will be in the future before there's a lower low. My approach to investing doesn't include making very many LT forecasts. Intermediate Term is more than enough of a challenge for me.
However, if you're looking for this to be <the bottom for the next 10 yrs>, may I aver with regard to your choice of charts? This daily does look encouraging.
stockcharts.com[w,a]daclyyay[pb50!b200][vc60][iUb14!La12,26,9]&pref=G
Problem daily charts aren't considered viable evidence on which to base a longer term forecast. First place I'd look would be weekly new lows.
stockcharts.com[w,a]waclyyay[pb50!b200][vc60][iUb14!La12,26,9]&pref=G
As you can see, this paints a VERY different picture. In fact, based on weekly new lows? In no way are we even close to an important low.
Don't worry, I can get mighty bullish once the evidence for a confirmed bottom is in front of me:-))
OTOH, trading from the long side is first and foremost about a correct evaluation of the risk/reward situation. IMHO, it's still too early to be heavily long. <Kash is King> right now.
I'm amazed when I see how far down most of my fav energy stocks have come down since I sold them. And every day sees that cash worth more and more vs the prices of the stocks I'll eventually be buying. And as such, my position just gets stronger and stronger.
Isopatch |
