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Technology Stocks : Osicom(FIBR) -- Ignore unavailable to you. Want to Upgrade?

To: David Pawlak who wrote (4559)	1/23/1998 11:00:00 AM
From: craig crawford	Read Replies (2) \| Respond to of 10479

<< If you are referring to the short term direction of the price, then yes, Craig, you WERE right, but for the wrong reasons >> Let me teach you your first lesson about the stock market David. There is only one thing that decides whether you are right or wrong. If your long and the stock goes down you are wrong. If you are short and the stock goes down you are right. The faster you learn this the better off you will be. And I don't want to hear this crap about holding for the long term means you will be eventually right. If FIBR turns on a dime and shoots up to 50 one day you will have been wrong for a long time and then you were eventually right. It's that simple. A profitable trade by definition can't be wrong. There is only one way to keep score in the market David. << What I find most interesting is that your indicator of future price direction was the chart and now that the chart is showing very positive momentum on the way up, you are still negative. >> The chart only confirmed what I believed. I didn't short FIBR purely based on the chart. It was only one piece of the puzzle. Now for your lesson #2. The Dow looked like it had good momentum at 8250 didn't it? Yet it turned around and is now in the 7700 range. PRST looked good at 200 didn't it? How about IOM? That looked good at 55 didn't it? Heavy volume big positive momentum. My point is technicals look good until they turn around and then they don't look so good anymore. If stocks are supposed to keep going up because they have positive momentum then how will they ever stop? They should just go to the moon! Answer me that question. Besides FIBR's technicals don't look good for the last 2 days now. FIBR had huge volume yesterday but couldn't close above 6 for the second straight day. It was "churning". I would be flabbergasted if it closed above 6 today. After an incredible move upward this year there is nowhere for FIBR to go but down now. Always sell a stock when the momentum stops and it has gone insanely parabolic. You know how I know FIBR is being manipulated/hyped higher? Just had to look at the chart. If FIBR would have made a nice U shaped bottom (like a cup with handle) it would have been a believable turnaround. Never trust upward spikes like these. They are ALWAYS followed by a sharp spike downward. The only difficulty is knowing when they are going to stop.