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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: augieboo who wrote (18815)	2/6/2003 12:48:19 PM
From: kodiak_bull	Read Replies (1) \| Respond to of 23153

This is what I really like about TA. If it was a simple as "buy/sell when the priceline crosses the ___ moving average" or "buy/sell when ___ oscillator has a divergence of 4 degrees or more from the slope of the 6 day moving average" then NOBODY could make any money out of it, since programming computers to do that is very very easy. I also like it since it's the only place where a woman (Libby) will say to me, "Hey, I like your TA." I feel like I'm in a bar. (:^-) It's all in your interpretation, the art side of the art and science we know as TA. I think we agree that OMG is consolidating here and it could break up or break down. On a TA basis the next strong overhead resistance is actually at 30. Wow. Below we seem to have support, weak, right about where we are. More importantly is the huge plunge down in OMG that took place in November. That basically cleansed the stock of the old holders, the ones who are looking to get even and get out (their hopes are pretty much dashed, because a lot of them bought this in the $50s). So, to me, this is a brand new stock that began at 10, dropped to 4 and has been rising ever since. We could be forming a long base (2 months) here at 8,9,10, which would make investments now pretty much dead money. Or we could continue the climb as per my hopes. At some point, although I don't like to, you have to turn some of the issues over to the fundamentals, if only to reinforce the limitations on downside risk. Per share, BV of $26.84, cash of $2.76, p/s of 0.05. I actually read a paper on cobalt somebody posted here. Sheesh. p/e of 2.49. Finally, I think you have to ask yourself, what is the stock doing down here? It's a very simple, market-based answer. The standard list of subjects who would own a cobalt-based stock have all been reamed with a roto-rooter; it will take time, and returns, to gather a new set of buyers. As we can see by the chart, it's a pretty skittish bunch. My approach is to hold firm with a limit order to buy at my price, then watch very carefully with either mental or real stop loss orders and try to ride it up. It worked the first time from 4.35 to 6.82, and the second time from 7.07 to 9.35. I hope to use it again should the market accomodate me with a little lower price here. Kb