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Yahoo! user I think his point is this: you can talk technicals all you want but they provide no prognostication as to where this stock is going. Had you followed onepoint's advice the last few weeks and accumulated stock with whatever cash you may have had, then unfortunately you would have lost a lot of money today and likely the normal retail investor would have dumped at a low point. Would you have been able to protect yourself? Perhaps with a stop loss you would have minimized the damage, but it would likely have been hit and again you would have bought high and sold low and lost a bunch of money. Technicals don't work on a stock like this in my opinion. It has proven it time and time again. Earnings reports and news lead to panic investors and that moves the stock while the rest of the movement is from the manipulators. If you own this stock you must accept you are a slave to the manipulators, but if you are long it is only because you believe the company will continue to grow. If you don't believe that then stay out of the stock or short it. If you are in it for a short term gain or short squeeze then save yourself some trouble and just mail the manipulators a check.
Onepoint, where was your warning? I admit I have not been hanging on every word here on the message board and perhaps you did post it, but I certainly didn't see anything from you on Monday or Tuesday. I may have missed it, but please let me know which post you made to warn everyone to get out because the SOW hit. Or are you referring to your posts where you were waiting to buy when it hit 7.90? Just last week you said $8 was a good buy point. Your statement in this thread that you have been out for a long time and have been warning contradicts your posts from just last week and even in recent weeks, so who is the deceitful one? Which statements are the truth with you?
Since you've asked I have been trading options for a long time. There are very good books you would likely consider primary-level books that I like, and then there are more complex ones that are good too. Books are just words on a paper and only as good as its author under the circumstances which it was written. It also depends on how well the reader soaks it in and understands it. Implementation and experience are the more significant teachers. Investing is not really that complex at all, but many investors want to complicate it too much. I use a specific strategy on fundamentally strong companies with good dividend yields and don't panic at fundamentally insignificant news. In fact it is the fundamentally insignificant news that I am able to usually profit from. I am looking to do so with TGT today since it was downgraded. It was already undervalued and now it will be even more. Now I use options to profit from it. I don't look for home runs I look for steady profit with minimized downside risk. SKUL is the second growth stock I have experimented with and taken the increased downside risk on. Nothing fundamentally has changed yet to make me switch my position that the stock will eventually get back to 11, or even 10 where the point of breaking even will occur for me. The next earnings report will be important to determine if this stock has fundamentally changed. If strong growth still exists, however, then my assumption that it will be back at 10 or 11 will likely be valid again some day since it will be terribly undervalued. If the growth seems to be in jeopardy then I will cut ties and take my loss. Everything hinges on its growth, well long term that is. And that is what I am invested for, long term.
When it comes to technicals and its definition I only know what I have read about them. I have never seen them as a very useful tool, so if someone can profit from them then yes, I am ignorant of their usefulness. Yet I haven't seen one post from you that can tell me where SKUL is going, neither short or long term. You even mentioned yourself you didn't know. So all of that technical work has resulted in no significance to anyone on this board except filling them with hope that this stock is possibly going up if the manipulators want it. That is, perhaps, with the exception of you. And if you have profitted at everyone else's expense here, does that make you deceitful? Or did you expect everyone here to be "in the know" on the technical analysis that you do and when the SOW will occur?
Corey, the following is a call from OnePoint on Wed. morning....
Both you guys say you're not selling.....well then, I'm not buying. The bottom is not in until you guys and Michael sell. . :-(
I'm not sure what to make of the last day of trading for 2012. Sure looks like a sign of weakness (SOW) on the right hand side of trading range. But they didn't let it take out the 7.70 low, hmmmm???? Could just be a spring, a test of supply, but I still don't like it.
If I was holding like yous guys I would have sold just as soon as that SOW was recognized. I wouldn't have chanced it. I could always get back in later.....commissions are cheap these days guys! What are you thinking about? Preservation of capital is job one!
This is not a buy unitl there is a sign of strength. Then it would be an aggressive buy. The conservative buy would be to wait for a retracement after the SOS.
You need to ask yourself, would I buy it here if I didn't already own it? If the answer is no, then why are still holding it?
Pussytwit can't even make a point himself with more than two words, that's what gets me. Simpletons (not you, you at least can put forward a reasoned arguement) thrive on these message boards which I find annoying.
I'm not convinced on the technicals either but everyone has their own system and if it works for them then that's great. I'm not even invested in here anymore but feel bad for those who are. To me, today's drop seems to be orchestrated to protect shorts on what would otherwise be a pretty painful day for them, as the general market bounces significantly.
Monday's sign of weakness was the big heads up to get out. I was out long ago and was warning. I've always said we would get an SOW or an SOS in time. Well we got an SOW and now down it goes. No surprise here.
How do you define "technicals"? Pardon the question but you sound like you've read a couple primary-level books on options but may be somewhat lacking in actual experience. I've been trading a little over 10 years and I've heard your line many times before; "technicals don't work on this stock". It is an ignorant statement that is born out of either ignorance or deceit.
"Pardon the question but you sound like you've read a couple primary-level books on options but may be somewhat lacking in actual experience."
Out of curiosity, what exactly brought you to this conclusion anyway?