MG, Re: Hit and Run
Well, seems like the dudes are tied 2 to 2.
Let's put this in perspective. I've got almost 7,300 stocks in my database (sorry DJ Bayer isn't one of them). For the 3 months ending 9/30, only 13% (944) were positive for the previous 3 months. For the year ending 9/30, only 26% (1925) were positive. The annual figures are down 5% for September, and I doubt October is going to help the figure. Shall we question whether the market is bullish or bearish?
So, how do we deal with a bearish market? I believe that it is not with a Buy and Hold strategy. Yes, it will end. I thought that on WDC as well. From that experience, I promised myself to not bet against the chart; been there, done that, and paid the tuition!
My opinions are by definition my own; my observations are decidedly my own. Just look at the scene -- support points are not holding and resistance points are. T is a great example. Look how much problem it is having going thru $59. I will agree that if it breaks $59 it is bullish; however, how many times does it hit its head before it goes down. So, I just sit and wait for it to make up its mind.
Don't call it; react to it. However, understand the support levels, and, if it breaks it, don't stand around to see where its going. Thus says the squirrel.
Berney |
