weekend charting november 21, page-39

Hi Legend

the charts are great. also need to choose timing for entry and exit in line with general market trend this week. could fall thr bottom of current channel. I have toe as slightly above bottom of current price channel but not the time to buy it with dow in downtrend. wish I could pick it.
have traded Toe repeatedly this year as a range trade only.
charts and fundamentals and brokers all pointed to 40c but now at 16c. expecting a rise next week but dow on edge of a cliff and will influence events over coming days and weeks.


had an order in to buy Toe last week a few times but lowered and then pulled out each time with dow at risk of retrace.

same with most other stocks have been range trading.

SDL is a classic example of the charts showing the potential range.

I believe in the fundamentals of both Toe and SDL but key for me is trading the trend within the bigger picture and the existing price channels.

TOE will be one of the first I look at buying once this retrace on the dow is over. could be days or weeks.

patience and time will let the market do the work of lowering and then stabilising the price.

the charts will show when toe has stopped falling. can then wait and let market show range of the first bounce and then trade the retrace. can then use this to lower entry price for next holding and so on until own TOE as a free carry with no risk.

could take weeks or months of range trading but that is the fun of trading.

I think trading strategy is as important as picking a good fundamentally undervalued stock like Toe.