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Non-Tech : RECY Looking Good... A
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To: Magnatizer who wrote (5792)9/17/1998 12:49:00 AM
From: ed doell  Read Replies (1) of 7006
 
>>I believe the basis of TA is simple supply and demand.<<

I agree. But this "simple supply and demand" you do not have in the Naz small cap or with low priced stocks. What you have is so called market makers doing whatever suits them whenever it suits them to do so.

And I'm sure that you remember that everyone cautions attempts at timing the market. All an investor can do is set price points for him/herself and live with the decisions and discipline which has been adopted. Mr O'Neil's (IBD) system is a good one...but not for low priced stocks...take it from him, he says so himself.

BTW if the stock goes to the low $1 range, it just might signal morbidity.

IMHO I wouldn't try to catch this thing. It's in an established downtrend. Even if you catch the bottom, you might be "a-rollin' and a-tumblin'" down there for a very long time. IMHO I'd wait for the uptrend (based on genuine fundamentals and not short covering or some other market-based bounce), and as you say, wait for the pull back, pick your price, pick your loss-sell point (never oh never post a stop loss on the NAZ, the MMs will just dip the market to get the shares particularly after a price rise), and hope for the best.

Nice discussion...maybe see you around some time,

Ed
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