Replies to post #6909 on lowtrade

[lowtrade]

BR549 brought that one to the board earlyer. I thought the second day continuation might work. But didn't see it in the AM rush hour. So didn't enter. between 10:30 & 11 AM.

PS; don't buy in rush hour. It's my stay on the sidelines and see what the emotional fools do, thing. Trade their reaction, not with them! Saved my butt MANY times since I learned that one! LOL

Got caught in too many runs, which turned into dives! Easy to close a buy, hard to close a sell! Remember to sell out of a dive with conviction. Below the bid! Again don't join the herd at bid! Get passed by to often. By the time you lower you bid sell order several times & close. You would have been better off taking a extra point or 2 loss in the begining. IMO

http://www.investorshub.com/boards/read_msg.asp?message_id=21158856

Now with the strong retrace profit taking volume, I doubt it will do anything, but retrace. .175 resistance is a problem also.

[lowtrade]

PS:

I don't like single or tripple bottom turns! See more fail then win. Double bottoms are the fast money style play. IMO

First attempt, longs weary because of history & feeling they've been lied too. This move usually turns back because of last chance sell long hold on any pop mindset!

The second time, weak handed longs are out. So new blood can continue the emotion run, without a profit taking selling day resistance.

Tripple bottoms don't work well because, those watching, just don't believe the move will continue, because it failed twice before. Support doesn't come!