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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: MileHigh who wrote (12320)	1/6/1999 12:15:00 PM
From: Al Serrao	Read Replies (1) \| Respond to of 34811

MileHigh, there is a time to trade and there is a time to hold. And sometimes we can be our own worst enemies that precludes the hudge gains some stocks can provide. If you owned CSCO during the past 8 years, when was the time to sell? And if you sold, did you have the good sense to buy back in when the all clear signal came? Very few have. One of the lessons I learned from William O'Neil was, "How does a stock double in price"? Answer, "it keeps breaking to new highs" If you bought CSCO as it continued to make a new high after it broke out from a base you would have added to your position and it would have kept you in the stock. If it broke down from the base, it would have been sold and you would be out of the position. Sounds simple, very hard to follow. It's what Tom Dorsey talks about when he's talking about managing the trade. Now lets go back and review your comments about RMBS being "one bad Mother" Do you mean by this that it is a bad stock because it doubled this past year? Or, is it "one bad Mother" because it keeps breaking to new highs? Chances are its "one bad Mother" because it was sold and then failed to go down causing you to have to buy back in at a higher price. We've all been there, and done that. It's easy to lose your position, it's difficult to hold on to one. Let the tape tell you what to do. That's what X's and O's are all about.