Zeev's Turnips Patch-No Politics (ZEEV)

[Zeev Hed]

krazikid, you must understand that "falling knives" is not the only game I play. Breakout are better then breakdowns, but in a bear market, too many breakouts, or ready to breakout, turn out to be fake. I am still waiting for my "rightfully" expected (g), breakout in COCO, but because we are still in a bear, I traded the uptrend a number of times rather then simply staying in until it breaks to a new high. The same with INVN, which has broken out, yet, because of the market conditions, I took off the table and will try and enter within the upchannel at lower prices. The six Dow stocks I mentioned on July 23rd (with an average return of 25% in just one month) where all "broken then" (except MMM, which, strangely enough was the poorest performer at only 15%). What is the lesson you derive from that group of falling knives? I would say the lesson is "correct timing", on the other falling knives, the timing was simply not "as correct". Going into "fallen angels" near major market bottoms (providing there is no risk of failure or major disaster, thus my not reentering TYC and missing a 50% move <g>) can be extremely rewarding, but one must remember to take those profits, since fallen angels are the first to fall hard when the market turns down again.

Zeev