Tasty Booshers

[Estimated_Prophet]

Story/emotion vs. charting

I had the final few straws break my back recently. My trading buddy who never comes on these message boards starting buying MCX in the low 4's in Feb. I looked at the fundamentals and didn't think they were worth that. I saw that they had sold off vessels before the huge run in thier industry, and a few other things. I loved the chart, but this fundamental look kept me out of a double.

The second was my beloved CPTC. This is part of the reason for me getting so rigid on stocks in downtrends here. I tried to time the bottom on this stock because I was in love with the story. That goes against my trading strategy, yet I broke it for love. Since then, I have gone 100% technical trading. My portfolio is doing extemely well now. The past few weeks I have been on fire. I also attribute this to finding some more patience and waiting for the better entries.

I still look a bit at fundamentals and love to look at the story, just want to make the clear. It certainly helps. I just won't violate my technical analysis because of it.

Good example is WGAT. Small float, great tech, coming out soon. This lets you know it could really fly. But, as soon as it breaks a key technical indicator or formation, I'm gone.