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

To: gravity rules who wrote (20122)	8/30/2003 8:55:52 PM
From: chowder	Respond to of 23153

It depends on what the condition of the market is next week. If we see the market pull back, the stocks with huge gains will see some profit taking. This chart will show you the breakout as it should appear, with notes. stockcharts.com[h,a]waclyiay[p][vc60][ilc20!lb14][J16849274,Y]&listNum=1 Now, once a stock has an intense rise, such as the one enjoyed by COVD, it really needs to form another base from which to build on. What we don't know at this time is how far it may pull back while it consolidates. It may take 5 weeks, maybe 10 weeks, we just don't know yet. I have been taking my profits on these intense pops. However, I'm not opposed to buying it back at a higher price if the consolidation and another breakout appears. If one is going to show consistent profits, and do it at a high level of performance, we must get over the idea of not paying up for stocks. We pay up for real estate when it shows more value, it isn't any different with a stock, if you're going to buy strength. If COVD doesn't set a higher high this week, I would sell, if it were me. Not setting a higher high on the weekly chart indicates the stock may start another base, or worse, head back down. All in my opinion of course. dabum