Saturday, October 11, 2008

Iceland Must Pay

I'm not that dumb after all. I had made a mental note to ditch EZPW - the one holding that was actually in the black. Couple of days later, I look and see it's down about 4 points and I disapprove of myself again. I login yesterday and see that I actually got out at 15, and it's now at 11 - so I get back in. And this is one stock that actually seems to be going somewhere.

And oh, what about BRK-B, I held 8 shares at one time. Let go at 4100 and watched to soar all the way to 47, but I knew what was coming:) Ooph! And what about CHK? If I hadn't gotten out at 49? I could have watched it drop all the way to 15.

You're getting what you wanted now - get ready to sell out completely in about 3 months. And, you can get back in about 4 months after that.

A mistake I keep repeating - looking for gains from climaxing stocks - if a stock is off it's high, it's not necessarily a good buy - no matter how good the fundamentals look. Look at the chart on different scales - see if it's climaxing. If you want to buy - when the stock is in an uptrend, get in once it builds a base, and set a firm stop loss.

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