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Politics : High Tolerance Plasticity

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To: jim_p who wrote (19009)	2/25/2003 7:30:05 PM
From: chowder	Read Replies (3) of 23153

CRK looks to be topping out. Once that volume slacks off, even slightly, I expect we'll see some profit taking. CRK has a wall off support in the 9-10 dollar range. It looks like 9.60-9.75 should provide solid support. We'll know if we get there. It depends on the size of profits if one should take them or just hang on. Personally, I was taking profits today in the 7-10% range. I like these 2-3 day 10% moves. All one has to do is capture 3 of those moves per year and you'll have some fantastic annualized returns. It takes a lot of patience though to wait for the right moment, but those moments are there. If you're impatient and end up losing 8-10%, or more, then you have a tough row to hoe. That's why I like the others to try and catch the bottom, I'll catch the trend. If I owned CRK and had a 10% profit or more, I'd be taking those profits and wait for CRK to test support again. It always does at some point. Buy support, sell resistance. It's a very simple and effective strategy. The tough part is managing emotion. Gotta be like the Grinch, you have to have a heart of garlic. Once you do, it's merely a matter of waiting for the indicators to say go. dabum

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