My P&F charts are percentage charts, which is their only difference from the ones that you're used to. Conventional P&F uses a certain box size over a wide range (1 pt = 1 box for stocks between $20 and 100), and this worked OK in pre-computer days. But think of a stock in O's at $90, and another one in O's at $5 (where 1 box = 50 cents). The one at $90 reverses into X's when it rises to $93 (about 3.3% increase), while the one at $5 doesn't move into X's until it reaches $6.50 (a 30% increase). That's not fair, and really quite misleading.
My expectations for OSX are positive, which is why I snagged a very small position in PDE a couple of days ago. I would have taken a larger position except that recent market action has me truly wondering if we're nearly due for a scary decline. Opex is next Friday, so we can get some extreme happenings over the next five days, which I hope will allow me to unload some stuff.
You and DD trade in a way that makes me dizzy. I like to own stocks for months, and I have little or no interest in 1-3 day "opportunities". I'm still in CAMP, but wrote CC's for $10 strike.
I don't think I've ever owned BHI, but it looks nice here:
stockcharts.com[PA][D][F1!3!2.0!!2!20]&pref=G
I used to do a lot of oil services trading, and owned GLBL before, along with NE, VRC, ESV, and many others. And, lest I forget a recent nightmare, OMNI :-(.
Hope that helps.
pg |
