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Registered User
Joined: 3/7/2005
Posts: 148
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Is it time to buy ?
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Registered User
Joined: 1/30/2005
Posts: 17
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Seems like if a ton of people say yes
its not time to buy. I know I've been in the house
of pain , but still buying a couple things. We will see a couple more days of selling I think .
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Registered User
Joined: 12/19/2004
Posts: 415
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If I said yes, would you buy?
Well the indicators says not yet, but getting close. BOP selling is drying up, MS seems to be stabilizing, but TSV still pointing down. So the wieght of the evidence, plus the Elliott waves don't yet show a bottom.
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Registered User
Joined: 10/7/2004
Posts: 2,181
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Based on a buy signal seen 5/9 - 5/10/06, and the successively lower highs over the next week or so, Sr. Fibonacci might suggest a buy stop around $2.94. The system I use in this case (entering a buy stop $.01 above successively lower highs following a genuine buy signal) would have gotten me in yesterday at $2.86 (or wherever the order got filled).
Sometimes I get stopped out but it's frequently a good way to, with relative safety, get in very low.
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Registered User
Joined: 12/19/2004
Posts: 415
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QUOTE (tobydad) Based on a buy signal seen 5/9 - 5/10/06, and the successively lower highs over the next week or so, Sr. Fibonacci might suggest a buy stop around $2.94. The system I use in this case (entering a buy stop $.01 above successively lower highs following a genuine buy signal) would have gotten me in yesterday at $2.86 (or wherever the order got filled).
Sometimes I get stopped out but it's frequently a good way to, with relative safety, get in very low.
What buy signal are you referencing?
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Registered User
Joined: 10/7/2004
Posts: 2,181
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5/9 bullish candle supported by lower 20-day bollinger band; 5/10 went over high of 5/9 on increased volume. To me, that's a sign of accumulation (maybe not a strong sign, but a sign). EGHT is a good example of this working well for me. Had a couple of signals end of April, beginning of May, got triggered and stopped out on 5/16 but got in for nice move at a penny over the high of 5/18. Sometimes I follow them down a long way, get frustrated and give up; but it frequently ends up in a nice move upward. Back to JDSU, I actually think it has a little further down to go before it's ready. This system often has me right there when the move begins.
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Registered User
Joined: 12/19/2004
Posts: 415
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Or that day could be considered distribution since it had a lower close. Now had it closed positive that day, I would say accumulation occurred.
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Registered User
Joined: 10/7/2004
Posts: 2,126
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A falling knife? As far as I would go here would be an attempt to catch the knife on a bounce back once it hits the ground. It reduces the chances of getting cut, and if you get cut while catching it in that bounce, the damage should be mild.
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Registered User
Joined: 12/19/2004
Posts: 415
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How sharp is the knife?
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