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Strategies & Market Trends : Contrarian Investing

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To: pcyhuang who wrote (572)10/26/2006 2:37:46 PM
From: MACD X  Read Replies (2) of 4080
 
Pcyhuang, explain why now.

stockcharts.com

On post 527 a contrarian alert was sent out on TLAB, while criterias were meet a chartist would pass this one over.

I am a chartist and you are a fundimentalist. This is what attracts me to your site. I never use much fundimentals and would like to learn stratagys with fundimentals involved simular to what you use.

Many of your pics are right on and this one may be also but from a chartist stand point I would be afraid on this one now.

Yes we have had a capitualtion type volume spike but it is at a trendline break. Look at the past history of this stock. It has failed every time. What is different this time? Nothing to me. The stock is channel downward and we are at the top of the channel.

A breakout to new highs may attract some of my attention if it were to occur.

Below is a shorter term chart of an entry that I may take.

stockcharts.com
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