On patience[Reputedly, Jessie Livermore]
"And right here let me say one thing: After spending may years on Wall Street and after making millions and losing millions of dollars I want to tell you this: It was never my thinking that made the big money for me. It always was the sitting. Got that? My sitting tight!"
(Reminiscences of a Stock Operator, Edwin Lefevre, Books of Wall Street Edition, seventh edition, 1986, p. 68).
"Livermore always considered "TIME' as a real and essential trading element. He would often say: 'It's not the thinkin' that makes the money - it's the sitin' and waitin' that makes the money." His success, according to Smitten, "was in his abililty to sit and wait patiently in cash until the 'perfect situation presented itself to him.'"
(Smitten, Richard, Jessie Livermore - How to trade in Stocks, McGraw-Hill, 2001, p. 72).
Technically speaking, it appears that DLKM is in the process of making a "Rounding Bottom," and , if occurring, an opportune situation continues to be at hand, imo. However, that formation takes patience on behalf of the investor according to Edwards and Magee:
"[T]he up trend which follows the completion of the pattern itself [rounding bottom] is apt to be slow and subject to frequent interruptions, tiring our the impatient trader but yielding eventually a substantial profit."
(Edwards and Magee, Technical Analysis of Stock Trends, 4th ed. rev. 1966, p. 80)
https://yfrog.com/0ddlkmweroundingbottom040g
Edwards and Magee provide a chart showing a breakout above a prior high after the low in the rounding process, which would appear to correspond to the November 2008 high of $0.69. The "perfect situation," would appear to be upon a pullback to the established curving up trendline of the Rounding Bottom formation. The breakout and acceleration on that chart, however, took place immediately following a pull back to the rounding bottom trend line curve and a move above the prior high. (Technical Analysis of Stock Trends, Figure 38, Id. at p. 80). But, it may not be necessary that a touch of the rounding up curve be made immediately before breakout as illustrated by another of their charts (Id. Figure 35, p. 78).
We'll c
fwiw
jmho
ICBW
dyodd