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Technology Stocks : Full Disclosure Trading
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To: Cary Salsberg who wrote (1132)7/11/2002 8:11:19 PM
From: Return to Sender  Read Replies (3) of 13403
 
OT: My new Investment Rules:

1.) Invest each dollar as if it were my last.

2.) The majority of all investments should be placed with the long term trend working in my favor.

3.) The long term trend now for technology stocks is down but that will change eventually. Trading candidates should be selected only from those stocks that I have followed long term.

4.) Semiconductor stocks are the area which I have followed most closely but other stocks will be considered.

5.) Watch for signs that the selling has reached capitulatory status: VIX reading approaching 60 - Huge volume days (NASDAQ 3 billion) with down volume outweighing up volume by a 9/1 ratio.

6.) Run daily charts (SOX Chart):

stockcharts.com!d20,2%5D%5Bvc60%5D%5BiUb14!Uk14!La12,26,9%5D&pref=G

Weekly charts (SOX Chart):

stockcharts.com!d20,2%5D%5Bvc60%5D%5BiUb14!Uk14!La12,26,9%5D&pref=G

And monthly charts ( SOX Chart) on every stock:

stockcharts.com!d20,2%5D%5Bvc60%5D%5BiUb14!Uk14!La12,26,9%5D&pref=G

7.) Only invest short in stocks that have topped out by penetrating their upper Bollinger Band and reversing. These stocks will often initially have RSI's of 70 or more but in a down market they are hard to find so candidates can be selected with lower RSI's.

8.) Only invest long in stocks that obviously bottomed. Preferably stocks that have both penetrated lower Bollinger Bands which have traditionally low RSI's in the 30's or lower. Run the charts!

9.) Trade long only stocks where the most recognizable associated index has also bottomed and turned positive.

10.) Do not hold stocks through earnings announcements unless you are extremely confident that both earnings and guidance will be positive. Check earnings dates with Briefing.com.

briefing.com

11.) Set stop losses of 5% on all stock positions.
Let winners run but move stop losses higher to maintain your profits. A stock can turn lower rapidly while you are not even watching.

12.) Never marry a stock. Making money should be your mantra. A one dollar gain beats a loss any day. If you run the charts properly you will spend a great deal of time in cash but your investments will be much safer.

Thanks for the kind words Cary. I'll be posting the briefing.com news soon on the Wennerstrom thread.

RtS
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