CR-Re: "trendline break Sept 8th BPHX...below $3.18 might be trouble".
You were correct and we saw what you were looking at when you called it to our attention. It was a trendline break and we appreciate you pointing out as that was potentially helpful input.
We decided to sit out the correction as the big picture looked good enough to live with a dip. BPHX pulled back to it's 50 day...quite a normal pullback, where it found support and launched higher. BPHX is now $3.50.
Yes, we probably could have gotten out and bought back cheaper as the 50 day is a perfect time to buy a great acting stock. but that's in retrospect. At the time one does not know if the pullback will be "enough" to get back in, then the stock takes off, one does not want "to chase" and it is soon at a new high and wait a minute...Where's our shares??
The getting back in can be much tricker than most would imagine, so we tend to not [often] play insy-outsey in something we like if the long term performace looks bright.
Corrections along the way are just part of getting from here to there and even if one knows when they are starting or about to start, that does't mean a long term holder should sell. Some times yes, many times, just live with it.
Any stock that has a 5 X or 10 X run while holding it will have many corrections and trendline breaks along the way.
You just can't take the bait on all of them along the way or there is no way you end up with holding your orignial shares to their 10 X of orignial buy price.
And holding all shares to that end is of paramount importance.
But, thank you for pointing it out as it was solid input even if we did not act on it.
Technically...BPHX looks quite good and is at 12 mo highs. Volume patterns have been constructive.
Thanks, Fabian
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