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Strategies & Market Trends : Longer-Term Market Trends -- Ignore unavailable to you. Want to Upgrade?

To: skinowski who wrote (996)	6/21/2008 5:57:02 PM
From: Perspective	Read Replies (3) \| Respond to of 3209

To this day, I struggle with what the optimal entry strategy is for something like that. I took one potshot at it back in January when it broke the 200DSMA and failed on its retest, but got stopped out at a loss. I know better than to short things that are hitting new highs. I thought it would have topped out over a year ago, so I'm glad I wasn't foolish enough to try to short it back then. c The "ideal" entry is probably when you've overlapped with the prior upwave, I suppose back nine days ago when it tested the 200DSMA at $145. However, I thought it would bounce off the 200DSMA and so I waited. I kept hoping for a retest of the failed 200DSMA, but so far that hasn't happened. Since it does appear to be at the latter stages of an impulse, the odds bet is probably for it to produce a bounce up to 200DSMA. But I don't like to put on a whole position all at once. I'm a gradualist, tend to move in thirds, if that, depending upon the volatility of the stock. So I'm wondering if I shouldn't go ahead and throw on 1/3 now, and pick up a second 1/3 if the retest happens. `BC