good post....appreciated....I just added ZE around 5.00 this week, to my "PSYCLE sm" "depressed Tech." tax-selling bounce list, with a close stop below....I have traded ZE twice before in similar technical chart formation, the last few years, and both times got real nice bounces, especially early in the year....I do not employ funadementals the way many people do, but use repeating chart patterns and sentiment, and ZE also recently formed an "exhaustion V bottom" on high volume, and has potential towards the 8-9 area anyway....many other depressed techs, like, WDC, DGN, ISSI, QSII, UTR, similarly attractive here.... diversify, keep close stops, and I think one has to look beyond L.T. fundamentals this time of year, for tax-selling bounces....ZE looks just fine here, as it has before, just as seemed most scary ....one must be brave here, as you seem to be, and realize that most S.T. bottoms do occur in formations like some depressed techs have here....
best wishes, |
