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No-dough-go

08/26/12 8:58 AM

#2990 RE: OldBen #2989

Technicals always matter and in part, because people think they do. Let's face it, there's nothing magical about a gap filling or about the RSI, some people trade based on these indicators therefore they are self-fulfilling to a certain degree. These "indicators" are in a sense, controllers designed to influence the market and keep it under wraps. All these "indicators" need to do is get a FEW people buying, a FEW people selling, then we have the cascade effect. The ability to short a stock is the same thing, in a sense. An illogical device to keep the market controlled, although others might say stable.

We all know that supply and demand is supposed to be the only thing that directs the market but that is simply not the case. Whenever there is money to be made, there is ALWAYS an angle and in this case, MANY angles. Unfortunately, for some, they think they have it "figured out" and they don't. In my opinion the overwhelming majority that's in this stock is speculating and just as a matter of preference because of an ability to persuade, I think some should be more humble about their so-called knowledge about a stock's FUTURE price. It's safe to say that no one should trade based on what others "think."
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No-dough-go

08/26/12 9:58 AM

#2991 RE: OldBen #2989

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.