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Strategies & Market Trends : The Ego Forum
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To: hubris33 who wrote (3872)6/2/2009 12:46:43 PM
From: Charles Macdonald2 Recommendations  Read Replies (1) of 12175
 
Agree - adjusting the stop point after entering a trade should not be the norm - it defeats the purpose of having an exit strategy and will over time cause you to lose more than win.

However, I will only do this on stocks I frequently trade and see something on the indicators or L2 that add some insight as to an intraday move/etc.

With regards to cycles - I do believe in them and believe that all things have a cycle. I am not smart enough for the Armstrong type stuff (cycles within cycles within multiple planes/etc); however, he seems to be on to something.

I added some DZZ as a hedge against my core holdings. Partly due to the cycle top, but this was a small part of it.

The major drivers were the approaching upper trendlines, top of the BBand, CCI/RSI/Stoc all overbought, and the HUI getting to the round number (400). Just seems like a good place for a slight pause.

All of that being said, I do think gold 1000 is (as Sinclair would say) pulling us.

We also have all of the potential global sparks that could launch gold straight to the 1180-1200 level. Therefore, would not think of cutting my core holdings - just hedging the bets a bit.

EDIT - Reason I am using DZZ is that I believe the potential holding period is less than 30 days.
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