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Strategies & Market Trends : Strictly Buy and Sell Set Ups -- Ignore unavailable to you. Want to Upgrade?

To: tonywyatt who wrote (355)	11/11/2004 3:50:20 PM
From: chowder	Respond to of 13449

Tony, I could be wrong but I think it's too soon to buy TMR. We haven't had time for those who were caught on margin to liquidate their shares. We could see further downside. Forget about the price and forget about the oversold indicator. They don't mean nothing! They don't count! Pretend they don't exist! The only thing I watch on price is whether there's a series of higher highs or lower lows. When you start seeing a series of higher highs, then we'll look at the indicators to confirm. Until then, sit on your cash. Be patient. Part of having a buy strategy is waiting for your strategy to put the odds in your favor. It isn't about catching the bottom price. The odds of doing that are 1 in a million, maybe more. It's the trend you want to catch. You want a good risk vs reward ratio and it ain't here yet. Again, the trade could work out but it isn't a successful trading strategy. Let the novices go for the glory. Be smart. Let's see some momentum building up before jumping in and when we do, we can jump with both feet. Nothing on this chart ot inspire me. stockcharts.com[h,a]daclyiay[d20040611,20041111][pd10,1!b50!b200!b20!f][vc60][iut!Lah10,30,5!Lc20]&pref=G dabum