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Message: Re: Looks like Peter

Mar 25, 2011 09:25AM

Mar 25, 2011 10:17AM

I think SGC might have a pop for a day or 2, but Venture still has no mojo, so I'm staying away. If we were in August or Sept, I'd be buying a chart like this, but we are getting closer to seasonal weak periods, so I'm selling stuff instead.

Regarding NDM/NAK, Peter sold when it broke down technically a couple of weeks ago. He did the right thing - no matter what the story, when a stock breaks down as clearly as NAK, you have to sell & ask questions later. There was a very obvious uptrend break, head & shoulders top, and a breakdown of support at the neckline ($17). The minimum downside target is for this pattern is 13 & it did briefly get there.

Of the stocks I bought during the recent mini-panic, it's had the smallest bounce. It's shown some strength today, so I reduced my position because I'm not sure which way it's going.


Mar 25, 2011 11:37AM
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