"The chart never lies (I think this ABTX fiasco may have finally turned me into a technician)."
Yes.
There are some on this thread, including me, who have split their ABTX holdings into two piles. One pile is the retirement money -- buy and hold strategy. The other pile is the trading stash.
And some *very* good money can be made by buying ABTX when the signs are good, and selling when the signs turn bad. Such a program, if followed rigorously, would have gotten one out of ABTX in the $25-27 range in early July, and at about $15 this month.
FWIW, I am still long my "retirement fund" portion (plus some April $15 calls which will probably expire worthless), but am not yet prepared to re-purchase my trading stash.
Other people ... including Karl Drobnic who occasionally posts here ... buy the stock and accomplish essentially the same thing through the use of buying and selling covered calls upon that stock. When Karl speaks, I listen.
The very challenging thing is to believe in one's technical indicators ... and, of course, to act upon them.
If you are interested, there are some excellent sites which will assist you in becoming more familiar with some of the aspects of technical charting. P-mail me and I'll jot down a list of my favorites for you.
JSb. |
