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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: hitsoft17 who wrote (12495)	8/25/2002 3:37:43 PM
From: chowder	Read Replies (2) \| Respond to of 206330

>>> JimP's fundamental and dabum3's TA analysis converged WRT PGO and that is hard to beat. <<< Hitsoft, a lot of people here may not realize, Jim and I compare a lot of notes out of the view of this thread and others. We often try to find a stock where the fundamentals and technicals are aligned. When the fundamentals are lacking, we try to determine a point where a move off the technicals has a case of providing a "high probability" trade. Jim prefers to anticipate the move more than I. He has more money than I do, (Mom was kinder to him), so he can establish positions quicker and double down if the need arises. I prefer to be more consistent, willing to settle for a little less, profit wise, in exchange for the timing and accuracy of the move. A week ago Friday, I mentioned the divergence in the price action of PGO. I told Jim we may see it start rising. I say "may" because there's always the possibility I could be wrong, hence I prefer to wait for confirmation. On Tuesday, Jim E-mailed me with a chart and asked my thoughts on PGO. Here was my response. ------------------------------------- >>> Jim, it looks encouraging from the standpoint that it isn't dropping further. I like how it's building a base. I'd like to see the base build a little longer, but I'll take what it gives. I'm waiting for a close above 42 cents before buying. I wish to time it as it starts to move. <g> Joe ------------------------------------------ Jim can correct me if I'm wrong. That E-mail was sent at 1:03 on Tuesday, the day before the turn for PGO. My price target was 42 cents. I wanted to see it close above that before establishing a position. The next morning it gapped up on good volume. Anyone who has been reading my technical analysis knows, it is recommended that you buy gaps on good volume, especially after a stock has been building a base. There was no need to wait for the close. Some people obviously think TA is gibberish. Some people may think what we're doing is gambling. So be it. If we're gambling, then TA, in the right hands, is the best card counting system that any casino ever met. The kind of successful card counting that instills fear in the owners of the casinos. da-hit-me-bum