Michael, I am a pure TA Trader....I do not care about fundamentals...
Ask me how a stock breathes and I will tell you that...You want volume studies, reversal areas, support, resistance areas,pattern identification, that is where I excel...I have re-evaluated the shorting area of LSCC...It looks like it could make it as high as 55.00,(pros will probably not take a chance and short before this point) before I would consider it a safe short(if there is such a thing)...I would short in that area, and put a buy limit stop at around 57.75....If we reverse, I have downside target long-term of 37.50 a share....Short-term, stock should rest at 47.50, and then at 45.00....I will be watching momentum on this one,because it hit my first shorting area today at 50.00...But like CPQ, I have to see a confirmed switch in momentum before I jump...I am learning to be more selective before I pounce...Good for pocketbook to do it this way too......Just rememember if any fund managers read these threads(hope they don't bother, we are just little guys), it is not a good idea for anyone who knows what they are doing to give out specific target points, since everyone is out to destroy the other guy....Great type of comradeship, heh?? Regards, Mark
Regards, Mark
P.S. I am fearful I am losing the nice guy image I used to have...
Guess you have to become hardened to become a great trader.... |
