PINL:VLTAF - Post by User
Post by
pipedreamer2on Apr 09, 2010 6:09pm
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Post# 16976545
Back in again!!
Back in again!! I have been very quiet lately but have very much been a participant .Interests me the recent discussion of buy and hold vs swing trade .I have traded vtr a few times so far and have done very well. bought in at .86 sold at 1.38 bought at 1.18 and sold at 1.53 bought at 1.04 and sold at 1.20.Now this week back in at under 1.50.
Why some say when the story is so good its a no brainer to just buy and hold and I agree.BUT in the markets anything can happen and be sure that you are the last to know.Good example being the loss of mining rights to vtr non core properties.Many that don't understand that really the SP is based on Kiaka and Kiaka alone.Trading the stock based on technical guidelines helps protect you from the unknown.It is a fact that the technicals precede the fundamentals
My approach is first technical then fundamental.
First thing is volume --nothing is happening worth looking at unless there is volume.
Second is chart pattern associated with said volume.
My most reliablepattern is a pennant ---almost always comes true and 50% of the time there is a shakeout before it takes off.
Might be rambling but can go into detail if someone wants.
By the way chart says 2.35
Pipe