Paul, what gets me about trading is that you are always trying to outfigure the other guy...Take MIND...The Pros knew that Brookins had encouraged his sheep to buy in the 15.87-16.00 area.......So what do the pros do? ...They take it out, hoping to shake some skittish investors and pick up their shares...I knew they were going to do it, and just waited for the volume to increase as we approached major support in the 14.87-15.00..I got in on the rebound at 15.50...The Pros did the same thing recently on APSG...They knew where the stops were set on APSG..So what do they do, they take APSG all the way back to 6 1/2 and get all those Brookens follower shares...I got in again on the rebound at 8.00 and exited at 10.00...Those people who blindly follow newsletter writers that have buy and stop positions listed are setting themselves up for the slaughter.....I do not follow any newsletter writer or internet e-mail news, but I do use it to my advantage as others do...
Now I may get my wings clipped as the pros try to taunt me by taking MIND under 14.87, but I don't think they will succeed...There are earnings coming out soon on this stock, and I would not want to be short at this point....I feel the same thing will happen to MIND as happend to APSG recently, and I have the same exit strategy ready to employ...
As far as THQI is concerned, I have it as a 3 month hold....A Christmas special....Here is a TA update:
The Bollinger Bands reveal to us a trading range stock from 9.11-12.45...Recently the stock tested the edge of the band and was repelled to the upside on decent volume..However the trend is still down...All rallies should run out of steam at 11.00, the top of the former upward trendline...My -D1 is at 30, +D1 at 12, while ADX is at 30 revealing a strong downward trend...
But not all is bleak...My stochastic moved to 23 today from under 20, a bullish sign...Likewise, volume has been up with price...The Williams %R bounced off of -80 to the upside, another good sign...
My Ultimate Oscillator trendline is up, and my Relative Strength is at 39 on its way to 50, where I would become very bullish...21 day sits at 10.57 and 50 day at 10.62...I am sure a lot of pros are watching that level for a potential trend reversal, and takeout of the former upward trendline at 11.00....
Just gave it a quick look, since I am not trading it....
Regards, Mark
P.S. Congrats on your shrewd handling of ASND...I just hope my violin string doesn't break and I lose my MIND... |
