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In a message dated 2/18/99 2:07:57 PM Eastern Standard Time,
lswope@xxxxxxxxxxx writes:
<<
I'd like to set up a possible trade and then get your feedback:
My system is based on fib retracements and Dell is sure retracing! I figure
there are 2 choices: 1)It will bounce off the retracement and resume the
uptrend. 2)It will start a new trend and go lower. At this moment it is
oversold, so that gives me two choices. 1)It will resume the uptrend. 2)It
will re-test the high before a new leg down and a new downtrend. That says to
me in the short term it is going higher.
>>
FEED BACK, AS REQUESTED:
your observation is correct. It is oversold at 78 - 80.
ACTION: Cover your short sales.
If you have "a plan" that only "buys long"....what you are calling trading
is NOT trading.
ALSO: selecting stocks that sell at 50+ time NO earnings is a "set up" for
disaster.
SUGGESTION: Move calmly back to square one, and reexamine what it is
you are wanting to accomplish. There are some reasonalby priced
junkets to Los Vegas that you might enjoy. While it is not likely that
you will return with more money than you left with, you will return
rested and relaxed with memories of an entertaining vacation.
HOPE THIS HELPS:
1. Grab your attention.
2. saves you some money, with which
3. you can take a restful vacation
Jer3Cube
jer33:3/eccl 1:9
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