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Strategies & Market Trends : Classic TA Workplace

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To: Henry J Costanzo who wrote (135074)8/3/2006 12:49:32 PM
From: bcrafty  Read Replies (2) of 209892
 
mc, GRMN redux - I said I'd wait for it to settle down, and I did since I'm not used to bottom fishing.

This morning it went no lower than yesterday's low at 86 and change, so for the heck of it I bought a tiny position @89 with a BE stop.

I'm wondering if today's a day to buy NGS since it's down a bit and hit last Thursday-Friday 15.90 - 16.40 consolidation area, and MACD has bottomed on the hourly. But I might get it a little cheaper if I wait to see if it hits the 15.50 support area from last week. What do you think?

Here's an interesting one I'm watching for longer term, OMG. It had a terrible slide at the end of '02 and has since then has been slowly climbing up. When it breaks through the ascending triangle top marked by the '04 top at 37ish, the coast may be clear for a long run.

bigcharts.marketwatch.com
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