RE:RE:RE:RE:RE:RE:RE:Bought the FinancingVentureTrader1 wrote: I don't think it's done yet, that's why I haven't acted on it. One relatively weak rebound day (EXN and sector as a whole) after a week or relentless decline isn't anywhere near enough to indicate a reversal.
VentureTrader
I find it much harder to establish an exit strategy for a stock than entry point. Just look at some of the DOW stocks as an example. I mean, forget about buying for a moment, who in their right mind would even hold this toxic junk? I would have sold off my DOW positions years ago and yet here we are ... with all new highs every week ... it defies logic.
Personally, I tend to sell when I believe the stock is over bought, over valued and it feels as though it is losing momentum but I always miss the blow off top stage where the biggest gains are to be had. I tend to sell a lot when the gains for the day far exceed the norm for any given stock and can't find it in me to re-enter after that.
What to buy is somewhat easier for me since I don't care about the short term noise. It is important that I hold a position on stocks that I deem to be undervalued in sectors that have room to grow. We can easily figure out P/E, Growth Rate, Cash, Debt levels and so on to determine valuations ... and even if the price DOES fall further after buying in, I will simply add more provided the valuation story is still favorable.
I am guessing you differ in that you need absolute confirmation that the stock has reversed course before getting back in ... I know you see yesterday's rebound as a dead cat bounce but what are you basing this confirmation on? It doesn't seem like you trust price targets much.
I hope you are sincere in helping the forum members get a better grasp of timing as timing is the crux of stock trading.
It is easy to criticize other members in hind sight ... it is not so easy when it is your own neck on the line. So VT, will you let us know when you are buying and selling EXN and at what price? ... Or will you just continue throwing insults and/or generalities such as "I don't think it's done yet"