Hi BirdDog! To answer your question, my view is the downtrend is clear. You have a good chance to pick NTAP and SEBL at your target. Look at the daily chart the past 5 months, especially for SEBL. Get the ole ruler out, put it on the screen and check it out if you have not already.
If it were me, I'd wait. Not sure I'd even target 6.00. Lower? Maybe. I'd wait for confirmed reversal on volume.
On the other hand, one parameter that must be considered is that of time. I mean, so many on SI look at a 5 min chart and use it to make long term decisions, which I think is so wrong. If it is a swing trade, that's one thing. If it is longer term, 9 months, a year, 5 years, well, that's different. You mentioned an intermediate time. Consequently, if you are not that concerned time wise, and have a longer time frame, then buying quality techs on a cost averaging basis may be a reasonable approach to consider.
In any event, right now, I'd have patience and wait.
RR |
