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Strategies & Market Trends : Charts for Breakout II
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To: BlueCheap who wrote (2054)2/21/2004 9:40:27 PM
From: Ed Newman  Read Replies (1) of 8531
 
Bottom feeding has not traditionally produced great wealth. Many stocks at the bottom are on the way OUT.
When Enron dropped from the sky down to the $10 range I thought, "what a steal" but then saw it begin to fall further (got out at 9) so that it settled at one. Was one dollar a bargain? No... now it is history.

Even if companies do not fold, they often languish in the muck of their lows for a long time before bearing fruit. To step in at a low point is to risk tying up good money in a dead pool.

The collossal internet collapse left investors in CMGI and JDSU with very little to show for it these past several years. JDSU is making a little noise, but the bloom is definitely off the rose for CMGI.

In theory, you can look at ANY chart and say, "What if you had bought here instead of up here?" Hindsight is always 20-20.

The breakout charts is useful for identification of short term moves.... and the record is above average here, if you do your research well.

Good luck all.
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