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Strategies & Market Trends : Ask Vendit Off-Topic Questions -- Ignore unavailable to you. Want to Upgrade?

To: MJ who wrote (6235)3/11/2005 12:10:24 AM
From: Walkingshadow  Read Replies (1) | Respond to of 8752
 
Hi MJ,

<< Some people would buy before a breakout from the flatbase. >>

I agree with you, there is no way to know how long SUNW might be range bound. Also, there is no reason to assume that the breakout will be to the upside. It is just as reasonable to assume that the break will be down.

IMHO, I think if you are trying to trade a break from a trading range, it is best to wait until the stock shows its intentions. But there is a caveat here too.... not infrequently, the first break is a false one. That possibility should not be ignored, even if the break looks strong.

T



To: MJ who wrote (6235)3/11/2005 6:53:25 AM
From: Vendit™  Read Replies (1) | Respond to of 8752
 
Re: seems prudent to wait for the breakout assuming it occurs.

MJ,

Based on the chart and the chart pattern it looks tempting so I look next at the P.E. | If SUNW had a P.E. of 10 or lower I may take a chance and take a partial position at this point; however SUNW's P.E. is 0 so that make the risk vs. reward ratio worse so I would rather wait for a better entry.

Reid


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