Ralph,
Ignore the 1st couple picks (not 'bulls at all)....
I only use RS in IBD to help weed out good stk stocks to begin with.
Then I want >6% drop from closing high. I am concerned tho that
this strategy will have to be seriously adapted for a bear market:)
Also, The pitbull system has been invaluable and certainly worth the $50, because of one BIG reason. It converted me from a 'bottom-fisher' and/or value investor. I was always looking for the undervalued and/or hitting the bottom, ready for rebound stk. Sometimes right, sometimes not. The prob (for me) is I can spend
hours investigating a stk, getting all the facts, and STILL the damn thing has a mind of its own. Its NOT what a stk is worth but what the street THINKS its worth....(hard to mind read)
IBD and pitbull and chg'd my philosophy....don't try to figure out why a stk is moving, just pay attention to what it IS doing. I use IBD for EPS and RS rating for initial screening for strong stks, apply CANSLIM principles for a overall warm and fuzzy about the co. But then its just a matter of eyeballing how low I think the stk must drop before I will buy it. I love LLUR
(lower left, upper right) charts, eg ccl, rcl. rcl recently dipped nicely but it was tooo nice, and I worried about news that I was unaware of and didn't buy....well, stk recovered perfectly. Oh, well
..'there's no called strikes on investing' buffett
BTW I have AIR now on a dip of 8% of the high (closing). It beat
earnings by 3% so I should be safe of 'surprises'. conrad |
