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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: Machaon who wrote (49929)	5/9/2013 2:54:01 PM
From: Fintas	1 Recommendation Respond to of 218460

Redundant post. Fintas

To: Machaon who wrote (49929)	5/9/2013 2:54:17 PM
From: Fintas	1 Recommendation Respond to of 218460

I'm with you re bottom picking. Yet a few comments. I'll look at the sector. I'll KNOW the FA.. I'll understand the company, it's management, the industry, it's float, those who use abnss to affect a share price. Yet I have no problem once I do the checks to come in off a low. If I miss I'll size in. So I'm with you. Most purist miss the first 20% And MANY get caught with the last 3-5% The trick when picking a low is not to get caught with a WORLDCOM, or a BEAR STEARNS. If memory serves me long ago someone was pushing worldcom on SI. NOT if they did their due diligence. And Bear Stearns. What was JC saying. OH yeah it was a take under at 80. UH HUH. Since I tend to hold for extended periods of time I'll show patience with the size in's to make sure I'm not reactive. UNLESS I feel very comfortable that's it. I've never caught a bottom yet. I don't plan starting anytime soon. I've never caught a top. BUT I do work with % both up and down to ensure I don't get caught holding or missing if all the checks support such. So good luck. I piped in ONLY because I understand what the pattern is saying and what the usual response is re a sector. NON precious is in the 20's. That's not the 9's where precious is. But it's also not 45. The usual pattern would be bounce, retest. OFF the 0's down.. and bounce and retest. So if you want to catch the bounce as many did with APPLE, GOLD COOL.. Just remember when things take a technical hit it takes TIME to work thru the excesses. Just as it can take TIME to put in a top but when you find yourself thinking I'll huff and I'll puff to get that last 1/2/3 % then think of it as overhead presses. And he's got it.. 225 bls.. OK add another 10 lbs? OR 3 lbs. At some point one becomes possible and the other will be crash and burn due to the weight being too much. I say that as I watch ms spx and ms spy getting tired. CMON CMON give me a bit more..CMON CMON OH OH.. did I just hear a gasp. SMILE Fintas