Big Dog's Boom Boom Room Message Board

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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Bearcatbob who wrote (39679)	3/1/2005 8:56:50 PM
From: chowder	Read Replies (1) of 206212

>>> we may be over bought - but we are not over valued. <<< I'm glad you mentioned that. It allows me to comment on the over used word, overbought. The term overbought doesn't have any significance on a stock in a steep up trend or steep down trend. Indicators like Stochastics, which signal overbought and oversold readings, is an oscillator and oscillators have more significance in stocks that are stuck in trading ranges. When you have an up trend, you switch to trend indicators, not oscillators, especially if your time frame for trading is more than 2-5 days. Overbought in a trending stock simply means you may see some profit taking and a stock will pull back to support or consolidate before continuing its trend. You may be right about value. I wouldn't know. Price is all I focus on. Thanks for bringing this up. dabum

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