Chris, Alas, Not Yet.
Day 6 & 8, respectively, and no one dead yet!
Chris, last Fall, Bill on the BK thread and some of the players in this sandbox, particularly MG, convinced me of the importance of TA.
While I've had this enforced down period I've being reading several books. The last one is Stan Weinstein's, Secrets for Profiting in Bull and Bear Markets. One of the best quotes in the book is:
"Remember, never buy a stock -- no matter how cheap it appears based on fundamentals or a recent sharp decline -- if its trading below its declining 30-week MA. The price performance is giving you a clear signal that there is a worm in the apple! Don't even think of buying it! Conversely, never sell short any stock that is above its rising 30-week MA no matter how high the price/earnings ratio is."
Better TA advice, I could not possibly imagine. He has some other rules: Numero Uno was "Never buy or sell a stock without checking the chart" and right up there (Steve will love this one) check the group (sector). Enjoy and get the book.
SMOD is actually holding up pretty well, particularly compared to ADPT. I'll enjoy watching this unfold as I believe FA + TA can be a brutal combination.
Berney |
