Ron,
Personally, on INTC I am waiting for the next buy signal(91) before taking new positions. I would normally wait for a pullback, but with the way the stock is acting, I am going to buy half of my normal position on the buy signal and half on a pullback if we get one.
On RON, I am probably going to take a position in it this morning. To me all of the indicators are saying buy. Yes it is on a pullback, but that is what I want. If I am doing my vertical count correct(50/50 chance on that), I am arriving at a price target of 72. If I am wrong on the buy, I would use 49 for a stop loss, violates double bottom or if I wanted to give it a little more room to work, I would use 48 which violates a spread triple bottom. With offense on the field, I will use the lower stop loss.
Also, you say you care about a few stocks, remember to let point and figure help take the emotion out of the equation. Emotion can and will lead to lost money. Remember, a stock is a stock is a stock....
Also, do not take my thoughts as the end word on intc and ron, I am still learning point and figure and the above is the way I read the charts.
Later,
Lobster
p.s. see everyone at the chat tonight(go to message 535 for time and directions).
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