Thanks - you were smart. As to hitting 28.95 again, we'll see. Defenderyou also sees danger of a break of 25, but says 24 (the 200 dma) could hold. Seems to me that exact numbers don't matter, but we can't break out of the 25-30 zone down into the lower zone, and especially if that break establishes a downtrend - lower highs and lower lows. If it does that, the risk is huge, because that action would not be consistent with any major up move. So I really hope it holds 25!
I sold my position out on Dec 12th for $28.95 and bought back in today for $25.75 because I believe we are near the bottom. Net gain = $3.20/share. Assuming I hold the stock and it regains a pps of $28.95 that equals an anualized ROI of 130% if I did the math right.
You are absolutly dead on right. If I had stood still when I first got invested in ELN last March at approx $12.00/share I would have doubled my money watching TV all day. Instead I have made over 350% gain by ignoring all the pumpers and bashers on this board and swing trading by using a very simple trading stategy using TA.
not since I have been trading it starting at 16. I have traded in and out no less than 5 times recording only one small loss in that time. Tomorrow would be loss # 2 but the gains have been significant and far outweighed a buy and hold. Remember the bar is set at where the stock is at any given time. 16 to 30 is almost 100% but 16 to 25 is about 50% and if god forbid we go to 20 then 16 to 20 is 25%. In other words a state of flux. During my time in the stock the stock retreated back to my original buy in (16 area) and has been to 30 and low to mid 20's and back to 29 twice. I mean this is the ideal trader and I can be reasonably certain that if it goes to 35 from here there will be some retracements along the way. I know some here don't like the traders mentality but when using margin it is the only way to play. IMHO BBBud