I hear you mate and won't buy until the chart says its clearly bottomed-out. I'd rather let others have the first 10-15% of a new upward trend in due course than catch what appears to be a falling knife at the moment. I've put it on my watch list though because history tell's me there's lot of money to be made if you get the timing right by buying out of favour companies with dirt cheap PE ratio's. I think waiting until the price has clearly intersected the 100 day moving average with a new uptrend is a nice simple tool that's useful with stocks like this. 100 day moving average is currently at $1.20 so I'm happy bide my time.
Thanks for the warning. Fear and Greed, the two greatest motivators, Greed was starting to get the better of me
Originally Posted by Roger
I hear you mate and won't buy until the chart says its clearly bottomed-out. I'd rather let others have the first 10-15% of a new upward trend in due course than catch what appears to be a falling knife at the moment. I've put it on my watch list though because history tell's me there's lot of money to be made if you get the timing right by buying out of favour companies with dirt cheap PE ratio's. I think waiting until the price has clearly intersected the 100 day moving average with a new uptrend is a nice simple tool that's useful with stocks like this. 100 day moving average is currently at $1.20 so I'm happy bide my time.
Reply With Quote
Bookmarks