How do I assign a b or no b rating (buy or not to buy) when there are fine charts, but also Vendit has warned we will probably be testing lows again...
That's the $64,000 question, freeus. Reid is far superior to me when it comes to reading the charts, so I certainly think it's wise to be cautious. The method I've been using in deciding whether to accumulate is just basic risk/reward, knowing that I cannot call the bottom. There are a number of stocks that appear to have very little downside risk. I'm not expecting any quick turnaround in these, but instead I'm looking out 6-12 months for, let's say, 25% apprection from the current level.
I continue to think that stocks with high multiples will be under constant pressure as the market gravitates toward the historical "norm."
it seems very difficult for any stocks to go up, even those with fine charts, when the market is tanking.
Very true. However, what I'm seeing is that some stocks are really only moving fractionally, even on big sell-off days - which indicates to me that they're done correcting. It's not going to be the momentum market we had for many years, so my adaption to this is to think in terms of buy and hold on some of these (and of course, placing stops in the event that I'm wrong). It's still a bear market with shorting opportunities. I'm just trying to think ahead of the curve, and carefully deploy some cash.
Since, I think the techs will need to base for several months, you could easily just wait for the base to be made, and the stock to move out on high volume. It's a very good market for taking your time, and doing the homework.
Donna
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