CLOUD SURFER WROTE: Yep.... Its a double top. You cant just hang...

CLOUD SURFER WROTE:

Yep.... Its a double top. You cant just hang onto a stock forever and pray it goes straight up, there are always re-tracements. Others (the smart ones) will sell to re-enter at a lower price. Its always a risk to leave a stock but the worse thing is you don't make as big a profit - but you still make a profit. You can never go broke making profits. I've made over 20c on this one in a fairly short period of time and I think I can do it again, if I miss out - c'est la vie.

For mine - Its time for some consolidation before the next run IMO, I'd like to see it gain support at 75/80 to form a nice foundation before hitting blue sky. Definetly not bagging this stocks' potential - I will be back on this freight train soon, for now - monitoring from nearby.

As usual - DYOR

------------------------------------------------------------



Cloud surfer, well done on your profit.

Sbm has not formed a double top however. As i am away on business and not at my work station with my program i shall give you approximates.

SBM's previous top was in Jan at about the 91cent mark, it retraced and bounced back to form another high at approx 95cents last week. It has not formed a double top but has formed a new recent higher high.

I think all realise that stocks do retrace, but your own trading method needs to suit your own personnal style.

The smart ones as you put it trade in many different ways and no one philosophy is correct.

I also disagree that you cant go broke making profits, we all make profits but the ability to maximise our profits and minimise our losses is the key.

Whilst trading sbm on a weekly chart, my recollection was a buy in very early sept and the signal has not changed.

Daily chart shows different obviously due to time frames traded.

A double top could mean a very powerful reversal, fortunately its not as SBM is still in an upward trend.

cheers