Breaking the rules big time. Boredom? Greed?

Posted on Feb 02, 2009 by in Letters

Sometimes we just look at the chart and say break the rule that says don’t buy stocks in a downtrend.  We did that the other day with C.  The time may be right to do it with PFE.  Very light commitment with stop 3 or 4% down.  This is not recommended for the faint of heart.

Remember two things here.  This looks like a Kilroy (H&S) bottom and the book says (and we say) don’t buy till the neckline is broken.  So you didn’t hear it here.  

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