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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: big guy who wrote (39041)2/6/2005 2:32:38 PM
From: chowder  Read Replies (1) of 206223
 
Scott,

I use charting differently than most people and I'm not sure if my approach is going to be helpful to you.

Charts don't have a magical formula that is going to help one predict future price movement and going back seven years isn't much help to me either.

I use charting to determine a trend, find levels of support or resistance and thus look at entry and exit strategies based on that criteria.

I look for price ranges where supply or demand is expected to come to market and plan my trades accordingly. I look for spots where the odds suggest I have a good chance to capture a 3% to 5% move in a few days and I sell. I then repeat the process again and again if I can. Capturing 4 moves of 4% over the past 4 months would have netted someone a better return with PTEN for example, as opposed to holding throughout this period and, they would have minimized risk.

So, I can't tell from looking at your charts if we are approaching peak oil prices or not. I can only tell where there is a good chance of buying in for a successful trade and I know where to look and confirm whether I made the right decision or not. I can also tell where I should incrementally sell to protect profits. That's all I can tell from a chart. Sorry.

dabum
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