Rich-
P&F is a good complement to any system, or even a good foundation, but I don't see too many people who use it exclusively. My complaint is that it is not very timely and gives up too much at both ends of a run.
I'm developing my own system that seems a bit more timely. Unfortunately for me it is still under development and only 2 weeks ago I ironed out a strong bearish bias (that I noticed in August or September). Without that bias it would have signaled buy on 9/27 and 10/10. Of course, with developing systems the easy part is knowing what HAS worked and twisting the system around to be historically correct. The hard part is identifying when the trend change actually occurs. Anyhow, as a result of my (hopefully fixed!) system I have been waiting for a pullback for the last week or two. Still holding some SMH puts and hoping to recover a little bit when the market takes a breather. Still holding more cash than I customarily do.
I've been high on biotech for most of the drop, and suffered accordingly. Still high on it, and added some ARIA a few minutes ago (survival of this company is in question, but the technology is super).
Most of my bearishness has been acquired from the Galapagos thread, and most of the folks over there have some compelling reasons for being and remaining bearish. I've been salting that thread with a few bullish charts lately, but also trying to pay close attention to their compelling arguments. I've learned a lot, to be sure.
-pg
BTW, I like PDCO. My brother is in the dental industry and recommended that one a year ago. I never took the bait, unfortunately. |
