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

To: chowder who wrote (2258)	2/13/2005 5:57:56 PM
From: profile_14	Respond to of 13449

Dabum, thanks for the comments and compliment but I guess in the back of my mind I was thinking of Intuit, which Larry pointed out the other day. Intuit fell in January because Turbotax sales (CDs) were down more than expected through early January, but when the stock took off earlier this week it was because of two factors in my opinion. The first was that it had superior sales by some 9% to the previous year, which ignited the move. The second was that the chart showed it was about to turn upwards since it was so oversold. Those two factors ensured that the move upwards was a strong one for those reasons. However, had the news come out saying that sales were down significantly instead of up, we would have gapped down. Knowing in advance that the company was going to release this news was key. Watching for it would have provided anyone with the signal, IMO. You are correct about keeping an open mind and going with the flow. No matter how much money you have or how right you think you are, the market is always bigger than you are and it will steam roll you if you don't move out of the way. Thanks again and best regards,