UnThreaded | Threaded | Whole Thread (10) | Ignore Thread Prev | Next
Author: eugene4059 One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 211  
Subject: Re: VLO Date: 9/20/2006 5:49 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 1
I pick up 200 shares today
as of right now I have a mental stop are 49.50


Another drop with increased volume. I guess the voters, (I'll use voters instead of buyers and sellers because in the short term the market is a voting machine) have no love for VLO. Did you stop yourself out or are you still in?

This is why I like to check the weekly charts to see what the longer term sentiment is. If it's sloping down you're safer with a short position then trying to buck the trend.

Although Stoch is in the oversold range, it's damn near flat-lined on the daily chart but looks to be in the beginning stages of a turn north when viewed on the weekly chart.

I would be looking for signs of capitulation in the form of a long black candle followed by a doji of some form with confirmation via an opening gap up the following day. Combine this with Stoch pointing north and MACD Hist working its way back towards 0.0 and the odds are better for a more profitable trade.

Anyway, if you're still in I hope this turns around for you. If you're out that's good because I think there's still more downside before spring arrives.

BTW, what kind of money management rules do you follow when putting on a trade?

Rich


Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (10) | Ignore Thread Prev | Next

Announcements

Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:
Berkshire Hathaway

IBM: Is Buffett Wrong, or Brilliant?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement