Some of the E&P's have now taken back 100% of the up move from the late January, early February breakout. ATPG and BRY are just a couple of examples.
ATPG:
stockcharts.com[h,a]daclyiay[d20041229,20050329][pb50!b20!f][vc60][iut!Lah10,30,5!Lc20]&pref=G
BRY:
stockcharts.com[h,a]daclyiay[d20041229,20050329][pb50!b20!f][vc60][iut!Lah10,30,5!Lc20]&pref=G
If those charts aren't an example of how TA can get you with a profit better then FA, then I don't know what is.
Fundamentals haven't changed and stocks are giving up 100% of their profits from the break out in February?
Profits don't count if you can't lock them in.
There should come a point where one draws a line in the sand on how much they are willing to give back.
Other E&P's giving back more than 100% of their break out profits;
TGA:
stockcharts.com[h,a]daclyiay[d20041229,20050329][pb50!b20!f][vc60][iut!Lah10,30,5!Lc20]&pref=G
TMR:
stockcharts.com[h,a]daclyiay[d20041229,20050329][pb50!b20!f][vc60][iut!Lah10,30,5!Lc20]&pref=G
I'm talking about giving back every penny of profit made over the last 1 1/2 to 2 months. It doesn't do any good to own a stock that goes through a Stage 2 uptrend, providing an opportunity to make handsome profits, and then one lets the market take them back. There were plenty of technical signals along the way. We ignore them by our own choice.
That's why I ignore the fundamentals. They aren't worth a damn when it comes to making a profit. They might be good at getting one in early but what good is that if we don't lock those profits in?
CC, above message is not directed at you. I linked to you because you have an interest in TGA or used too. FWIW, I'm seeing some systematic buying the last 2 days. Two days isn't enough to make one want to jump in but, it may be worth keeping an eye on.
dabum |
