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Re: OldBen post# 2989

Sunday, 08/26/2012 9:58:04 AM

Sunday, August 26, 2012 9:58:04 AM

Post# of 16750
Just to clarify something, when I said technicals always matter, I meant only in that they can serve as a guide, that is be helpful but they certainly aren't definitive. In fact, technicals told you to wait for a lower price yet you bought in at $2.69 because you "didn't think" it was going lower. If you had waited on your "technical price", you'd still be waiting. Technicals fail all the time, especially on "hot" biotechs.

Would you miss the MD*N run from 40 to 100 waiting on a gap fill? Would you miss the PC*C run from 40 to 60 because the RSI was already over 80? Would you miss the TH*D run from $3.00 to $6.00+ because the news was priced in?

Whatever works for you is fine but you MIGHT have to make a few adjustments when trading this sector.
Volume:
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