GREY:WFREF - Post by User
Comment by
KC8on Oct 07, 2014 8:43am
285 Views
Post# 23005170
RE:Bargain Hunting
RE:Bargain Huntingretireedcf - Sir, I appreciate the information you have posted and your thoughts on serval gas and oil related stocks. If you have picked the bottom on these issues including your LRE you are going to look like a genius and will be in for some real nice gains.
I am not disputing what you have posted, just going to play the part of the devils advocate. You are using a fundamental process while I am look at these issues technically. First of all I admit that I am not fully versed in technical analysis, but it has helped me turn a profit, and get out of issues before the share price drops even further.
One rule of thumb is you never buy an issue when the 10 week MA drops below the 40 week MA. Some technicians refer to this situation as the "death cross", simply because there is no technical way of pointing where the bottom may lie.
I am not saying I will be correct, just the plan of action I follow. Afterall, it is differing thoughts that make a market.
In closing I would like to say I have enjoyed reading your posts over the years and wish you the best with your recent additions.