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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: buckbldr who wrote (102119)	6/5/2008 12:16:51 AM
From: buckbldr	Read Replies (1) \| Respond to of 206325

To continue my remarks about WNR chart and how my discipline derived from some of your teachings applies to this particular stock at this time. I watch for a buy signal in an uptrending BB 20,1 pattern to confirm when the buy bar closes above either the mid band (20 sma) or the upper BB band, and if the close is above a previous isolated high above either of these bands. This will be chosen only if there has been a 20 over 30 crossover to confirm a "breakout" condition, as well as a significant increase in volume to confirm the stock is being bought by institutional money. It helps if the money flow is in a positive range, also. Using these conditions, I probably would not have bought this stock due to the lack of a crossover of the 20sma over the 30sma until today. I stay with the position so long as it does not close below which ever bar I established the buy from. If the price penetrates the upper bar after a buy off of the mid bar, I will generally use that bar to signify a sell signal. A lot depends on market conditions at the moment. The chosen bar acts as a trailing stop, though I only act from mental stops, taking a chance the price won't dive too far overnite without recovering to an acceptable level to get out. We have discussed long ago the efficacy of taking all, or only a portion of the profits when each time to do so occurs. My thinking is if one is closely monitoring the price and stock behaviour, that you gain 100% of the gain if you sell all, as opposed to the chance that retaining a portion until the price drops further causes one to put less in his pocket from the action. If these "signals" have any validity, then one gains more while still being able to reenter should the stock turn back up after making a false dip. Also it saves commisions, though at today's prices I don't worry about that expense any longer. I confess this discipline does not conform to your teachings, and I intend to play with a change in the bb settings, but it has produced some good results for me, and I thank you for providing a basis for me to work with. Buck