Thursday, October 25, 2007 9:28:53 AM
PICKS UPDATE:
Hi all-
Been a little MIA as I've been extremely busy at work.
Doc, glad you see the difference now between the weekly and daily charts (and their calculations). Their difference is huge in making the right decisions.
Quick picks update:
I said BUY on the following:
9/27: AZ - Purchase $23.08 - if one were to follow our methods here strictly, it would basically be breakeven. You would have sold as the 5 and 10 (yeah, you could wait for the cross under the 20, but usually for a sell I do not) crossed down around $23.25. OK, this one didn't work out so well.
10/3: NYX - Purchase $79.56 - you'd still be holding with a 13% gain. Why not the sell when the 5 dma dipped? because unlike with AZ, the 10 dma never really pointed down, and during the dip the RSI was overbought, so it was an expected pullback as opposed to ther sharp reversal of AZ.
These 2 provide a great lesson. Here are the charts:
Hi all-
Been a little MIA as I've been extremely busy at work.
Doc, glad you see the difference now between the weekly and daily charts (and their calculations). Their difference is huge in making the right decisions.
Quick picks update:
I said BUY on the following:
9/27: AZ - Purchase $23.08 - if one were to follow our methods here strictly, it would basically be breakeven. You would have sold as the 5 and 10 (yeah, you could wait for the cross under the 20, but usually for a sell I do not) crossed down around $23.25. OK, this one didn't work out so well.
10/3: NYX - Purchase $79.56 - you'd still be holding with a 13% gain. Why not the sell when the 5 dma dipped? because unlike with AZ, the 10 dma never really pointed down, and during the dip the RSI was overbought, so it was an expected pullback as opposed to ther sharp reversal of AZ.
These 2 provide a great lesson. Here are the charts:
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