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Technology Stocks : FirstWave Technologies (FSTW)
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To: TEDennis who wrote (6946)12/3/2002 11:13:50 PM
From: Sweet Ol  Read Replies (1) of 9677
 
TED, thanks for your comments on my chart. I have really gotten into TA in the last couple of years. Slowly learning.

The 10.50-12.00 downside target is based on Fibbonocci retrace percents of 38.2% and 50%. The vast majority of retraces stop in that range. It may well go back up some and then resume its downward trend. Weshallsee!

I have been trading FSTW for years. I have managed to catch most of the big swings except when I go to sleep on it and forget to watch it when it gets in the doldrums.

I guess us old software guys have to do something in our retirement years. I always hated accounting, so I am not very good at digging stuff out of financials, PRs, etc. So I look forward to what you guys come up with. I should have posted more of my TA thoughts. I have come to the conclusion that stocks move for reasons that don't often have much to do with the usual fundamental reasons. That is why I get a kick out of charting and trying to see the patterns and rhythms of the price changes.

Prices go up, prices go down. The important thing is to be on the right side of the moves. A few years ago I fell out of a canoe in some fast water. I was only able to get to the bank when I quit trying to swim upstream and let the river carry me to a gravel bar where I make an easy exit and walked back up to retrieve the canoe. Later I reflected on how I often nearly drowned in the stock market when I was fighting the trend. The damn stocks won't go where I want them to go, so I have to go with the flow. My profits improved from that really bad experience in the river.

So much for late night BS.

Best to all,

JRH
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