Jerome, et al...
Don't worry... I'm not scared by Mauro, and I don't really blame him for asking the questions he asked.
However, I really don't know why said this...
<<Please give some meat to support your predictions not hearsay.>>
I really don't know why he accused me of giving 'heresay'...
did that really make any sense??
All I said was that SNDK's DMI gave a sell signal four weeks ago, and MACD also did three weeks ago... never tried to say why.
Now...
Mauro, you asked if this was just due to the overall market downturn.
How could it be, when it started way before the downturn happened???
In terms of MACD, The stock's indicators had already turned way down two weeks before; the market slide just furthered the indicators down to the point that I got the 'crossover' signal.
As for DMI, it gave a crossover signal several days before the big market down day.
I believe about SNDK what I always believe when I see signals like this -- that for whatever reason (e.g., profit-taking), the people wanting to sell SNDK (bears) got stronger than the people wanting to buy SNDK (bulls). When this happens, the stock price goes down. I never trade against this type of trend. I wait until these same indicators tell me that the bulls have regained their power over the bears.
I don't try to predict when this will happen, and I don't ever try to predict target prices, stuff like that. I just watch these indicators, infer likely market direction, and trade in that direction. I'm right about 2/3's of the time, average about 8% a trade, average about 25 days/trade. Do the math, it's profitable.
Loren |
