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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk

SOXL 47.71

+0.7%

Oct 31 4:00 PM EDT

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To: #Breeze who wrote (78891)	1/20/2013 11:31:43 AM
From: Fintas	Read Replies (2) of 206706

As you know often stocks push a bit higher or lower. The more a stock is abused the better the chance for what I refer to as FLUFF. BAC hasn't just been abused it's been near beaten to death. However those that were trying to change the face of BAC failed. As a result it will and has benefited from forced buyins. They will continue over time and that will help the upside. A few things: If one can see a number then many can see a number. So selling is part of the mechanics. I will usually sell at x % from where I feel a stock will peak or bottomed. I'm more concerned about getting the bulk of a move and not the last few dollars. Keep in mind since I track RS of a stock as compared to spxew or spx, I anticipate turns so it helps me to come in lower. It also helps helps exiting. B;Something perma bulls forget. There is a time to sell. As a bull I'm always reminding myself STAY OBJECTIVE. Don't get caught up in the story. Stay focussed on the numbers. Make certain they are realistic. Ex I think I'll get off my recliner and do 500 pushups. So what if I can only do 50 and have only done 50 the majority of my life. Ditto a stock. What is going to cause a stock to get to a number? C: I don't expect that 34 tomorrow. I expect it to take TIME. I can hold 3-5 years. BAC 34 will take TIME. What I'd be focussing on for those who came in off the bottom is the 15/19 areas. They can happen faster than many expect and WHY I will exploit calls when given the opportunity. They have OOOMPH for those who play that game D: I've been expecting BAC to pull back so now I sit and watch to see how low. As things move along my work allows me to anticipate and why I developed the use of strings or little waves. It helps to see smaller moves as the tide comes in or the tide goes out. It is why I will consider a series of numbers. Sit in from of the ocean and one will see many waves..Yet as they occur direction and time is what is key. We are in a secular bull any selling of the spx is just part of the process. When does this bull take a deep breath. A long ways from where we are. When will BAC take a deep breath. Well since it just did, and if one can determine where to mark it from then one will understand those waves up. Meaning whether 33 or 34 it's very attainable. And if they are attainable then how about 19/24/29. Thanks for your input Fintas

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