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Politics : High Tolerance Plasticity
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To: quehubo who wrote (18464)1/11/2003 10:18:35 AM
From: chowder  Read Replies (2) of 23153
 
>>> Did TA get you in PTEN at recent low values in the teens? <<<

Que, it could have if I chose to. As you know, I have mentioned many times that buying major support levels is a good "high probability" trade. PTEN at $20 bounced off a major level of support.

I'm not trying to put FA down. The ideal situation is when FA and TA meet at the "golden crossroads." I'm not educated enough to read the balance sheets accurately. I'm one of those people who can be easily fooled by the CPA's and accountant types. I envy guys like you, Sharp, Brother Bum and Kollmnh who have a knack for the financials.

I have to work with my strengths and one of my strengths is a willingness to follow the leaders. TA helps me to do this. If a guy like me can pull a 40% annual return in a major bear market, guys who have a knack for the numbers should be able to do even better, with a few basic TA techniques. You have had an excellent year and I would be willing to bet the little bit of TA you applied helped to cement the fundamental side of your analysis.

My focus is taking me in a different direction this year than last. I'm focusing more on taking advantage of situations where extreme volatility exists. I'm going to focus on stocks that have a beta of 2.0 or more. There will be exceptions, but with the tools at hand, I think I can maximize results with even less risk exposure, looking forward. My TA is developing to a point where I not only can spot reversals, but now I'm learning to counter trend those reversals and eliminate whipsaws. I'm counting on folks like you to keep me abreast of the fundamentals. By working together we can all focus on our strengths and depend on each other to offset our weaknesses.

Thanks to RRI, most of us are off to a good start. Let's continue to communicate and share ideas that benefit all who can maintain an open mind.

dabum
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