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

To: tom pope who wrote (2626)	3/6/2005 6:51:32 PM
From: kodiak_bull	Read Replies (1) \| Respond to of 13449

Tom, TKLC is not coming into support here, at least not for another $4 down (see the former resistance in the end of '03). If you want to make a bet on a stock hitting support and bouncing, I'd certainly not want to make that play with an immediate 25% of my capital at risk. Calling a bottom or a bounce on this name is gambling, pure and simple. Everything about this chart is pointed down. Will it bounce somewhere here? Maybe? Should you bet on it? No. As OOOO's idea that this thing is running into 1994 trendline support, well, that would be an interesting chart to see. I can see at least 3 trendlines that have been broken since 1994, though. The only important trendline on TKLC right now is the falling trendline drawn from the December high through the February bounce at about 19.40. Any bounce will find resistance at that falling trendline. As for OIH making a top here? Really, how does one get on the mailing list that sends those out? People have been calling the OIH top since $83, and they've been $17 worth of WRONG. Same with those "topping pattern" calls on AAPL at split adjusted $25, 32, 36, 40, and the tops called on TOL at $65, 75, 85 and 95. Still no tops in sight. The investor's job is not to outwit the market (will never happen) but to try, with humility, to line up the probabilities on one's side. Being on the right side of the trend is the very first step in that direction. Kb