TLGD...I am of the opinion that the technology sector is not ready to buy and hold, there is still downside and I am on the sidelines just 'fishing' for very short swing trades (1-2 days) in the sector. TLGD has simply proven itself. I've averaged UP from 17 1/2 (averaging down is the most unprofitable, and analyst contrived strategy for 'calming the masses') but averaging up is simply on days when TLGD is looking paticularly strong I pick up a block and add to the position. TLGD has done better than a scalp for 5/8 or 1/4, its been a 'long term day trade' for much of the session, while others that might find their way up for a brief interlude, invariably crash down in a later reversal period.
BARRON'S: Up & Down Wall Street
.....from Barron's
-- Wall Street is obsessed with bottoms. What it demonstrates is the
inherent optimism of investors, especially so-called professionals
(they're the ones who get paid for losing other people's money). It's
rather a touching fetish, since it bespeaks an irrepressible optimism.
For in contrast to such preoccupation with bottoms, interest in
identifying a top when the market was in the clouds a scant year ago
was not only minute but* considered bad form.
Because of the mixed opinions on what will be the fate of the NASDAQ I would lighten up everytiing the end of the session, I lighten up again, but TLGD as an exception still has grown from 300 to 1,200 and sometimes much more intraday. Its not that I like TLGD, I don't think the technology sector is ready for 'buying and holding' but TLGD has just done relatively well for us.
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