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Scifos, I like the fact that DRI has pulled back a little. I don’t like the sector action however and I feel others look better. I guess I just added it because of the nice clean p/b.
Here a few that I’ll be looking at closer tonight
DAKT COL ADCT KNDL CELL
It just showed up on mine because the recent pullback.
I’ve got a bullish tone on SMH as it seems to be sitting near what I’d call triple support. It has also pulled back to its lower channel line and I’d expect a move up from here. If this general area is violated then I’d leave it alone. Remember support and resistance lines are approximate and not exact. I think SMH might offer a low risk entry here with a target back to prior highs. We shall see!!
PSSI- this stock has been consolidating and basically moving sideways. I like the gap up back in Jan. PSSI has now currently moved up out of the consolidation zone and is in a first pull back. One could take it long at 19.04 with stop 17.99. Scale ½ position at 20.09 and trail rest. 1% model in effect if trade is taken..
Hey runner, are you still working with guppy multiple moving averages? what do you think of them? Seems like an elegant way to play off of the two trends, long and short term.
Hey runner, are you still working with guppy multiple moving averages? what do you think of them? Seems like an elegant way to play off of the two trends, long and short term.
Scifos, I do look at them from time to time but I don’t base my decisions on them. I still prefer price action and trend lines to the guppies. From what I’ve seem the guppies do a pretty good job of showing the trend and or changes of trend. I guess your right it does seem to be an elephants approach..haha
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