Thursday, December 16, 2010
Buying dip ideas
Requires regular review of stocks and ETFs.
On IBD DGO/MS, might closely resemble buying bottom of a channel.
For now, tough to decide on an exit. Holding for months might yield better than shorter term.
Better if in an overall uptrend where 50>200
Lower bollinger band touch, especially with a tail, is nice.
I'd rather stick with what I have followed, am familiar with, and is a good quality issue.
Tough to judge but it appears that after a big breakdown might need to touch upper band then the lower. When it then touches the lower band a 2nd time buy and hold is easier.
Can't ID intraday well, better to wait for end of day data or be aware of a first hour plunge/shakeout. Do not catch an intraday knife with hopeful hands.