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Re: A deleted message

Thursday, 05/26/2011 8:26:48 PM

Thursday, May 26, 2011 8:26:48 PM

Post# of 173212
You know what kills me, people who don't understand that there are multiple ways to arrive at the same spot. I never claimed that positive news can't act as a catalyst to move a stock, and I never claimed that stocks move because of a chart. Charts simply reflect the trading action in an easy to view manner. A strong stock tends to reflect something positive about the company, and that can often be seen in the trading action (the chart). I watch as many strong trading stocks as I possibly can, and when I see an opportunity to hop onto some momentum, I do so. I noticed the demand side has started to dominate over the supply side on this stock (a while ago), so I could see the situation was working in favor of the bulls. I saw a clear line of resistance, and the signal I was looking for was that to get broken and volume to come in. I don't care what brought in the volume, and yes I did see the PR. All that matters is I caught the breakout and have been doing this going on six years now. You play the news, I play the charts/momentum. I've got my method and it works beautifully for me, and hopefully your method is working for you. Can you respect that?
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