Stock Watcher's Thread / Pix of the Week (POW) Message Board

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Strategies & Market Trends : Stock Watcher's Thread / Pix of the Week (POW)

VEEV 242.00

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Dec 5 9:30 AM EST

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To: American Spirit who wrote (7763)	5/1/1999 10:06:00 AM
From: Stock Watcher	Read Replies (2) of 52051

American; appreciate the explanation of how you pick individual stocks, and your strategy for buying bargains and then selling them when they recover. As a suggestion, always review charts. The trend usually does tell the story and it's very difficult to predict when a stock will reverse course. Momentum plays have worked much better for me, and a descending chart is usually a signal to move on to the next stock. There are many investors who will argue this point until they're blue-in-the-face, but a perfect example is the recent destruction of NETA. Many investors thought they were getting a great buy @ $30; the stock looked like it had formed a major support level here; $29 was tested several times, and even though no one could foresee their recent 'accounting discrepancies', the stock continued to plunge down to approx. $10...now, those who think they're getting a great buy @ $13...may still be surprised with further downside momentum until the stock has completely bottomed-out, and the big 'wash-out' occurs. Unfortunately, with most descending charts, you'll have to suffer tremendous pain before a 'key-turn-around' occurs, and the stock truly decides to change direction and go north. Personally, I can't stomach this type of torture even though the rewards can be unbelievably profitable if you can hang on long enough. You'll deserve to make every penny you earn if you're able to ride out the storm before the skies open-up once again. Just a few thoughts for your consideration...all the best, sw

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