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Strategies & Market Trends : Technical Analysis - Beginners

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To: Gale A. Thompson who wrote (1444)	12/20/1996 7:21:00 AM
From: SteelBlueIce	of 12039

Gale, >>But I guess I was just wondering if say a $20 stock climbs 3 points in a day, is there any reason to sell it. Is it the general rule to let it ride? That's 15%, you'd have to time travel back to the days of Carter's presidency to get that rate of return and then you would have to wait an entire year to earn it! What it really comes down to is your time frame. What is it? If you want to trade you've done well.On the other hand if your an investor, you have not even started yet. Chart patterns are important. *Was this a stock you bought bottom fishing? It just may hit overhead resistance. * Was it purchased after making a very long base? It may continue. ***Was this move news related? It may just be a rumour or an exagerated reaction and possibly retrace all by the morning. So you see, Gale, there are many variables that have to be taken into account and there really isn't a rule that can be used in all situations. If your still in doubt, fall back on my favorite cliche- "you can never loose money by taking a profit" Regards, Jerry

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