Morning Jenna
Your observation on BCST is right on the money...I exclusively use P&F CHarting, because for an old, pea brained person, i need to keep things simple...and Point & Figure is just that...
A stock Like BCST, after you posted it on the list, just moved within a range when it moved lower..actually when i looked at the chart it meant nothing for the stock...we call it "noise"...movements that have no real meaning...jiggles, up a bit, down a few, not really having any great effect one way or the other..
However, when the chart shows you "THE" number to watch as a possible breakout point, and the stock "HITS" that number, and of course market conditions & "SECTOR" position in the right direction, THEN you get an explosive move...
Couple that with any other charting indicator that's basically showing "THAT" potential move..and Wham!!!!!! up we go...hard and fast....works almost every time....
Really Like your idea about have an archive of the better past plays..i trade them all the time...excellent longer term holds...
Also, we are due for a market pullback now..we're very overbought..this becomes a hit & run market for right now...everyone should take profit quickly, use trailing stops...and don't get so euphoric about "watching" a sock explode like yesterday, and then implode quickly...don't let profits erode away...a no-no...preservation of capital..."THE" most important thing to remember...markets are open everyday.....
always enjoy your thoughts and watching your trade like the pro you are...
my regards.. Jerry |
