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The Deipnosophist

Where the science of investing becomes an art of living

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Location: Summerlin, Nevada, United States

A private investor for 20+ years, I manage private portfolios and write about investing. You can read my market musings on three different sites: 1) The Deipnosophist, dedicated to teaching the market's processes and mechanics; 2) Investment Poetry, a subscription site dedicated to real time investment recommendations; and 3) Seeking Alpha, a combination of the other two sites with a mix of reprints from this site and all-original content. See you here, there, or the other site!

13 July 2006

Brief update re RACK

So RACK declines again towards $32. Is it too silly to suggest I expect(ed) this type of action? (Recall the limned double bottom intermediate term base.) In fact, the closer it nears to crucial support at $32 (the 200-day sma now is ~$32.65), the more likely it becomes I will purchase another lot. I prefer the shares wash out towards that level today -- and soon (meaning, early on) -- so that the likelihood of a bounce from that low would increase.

But $32 also is my stop out level. A failure to hold that price level, especially on a close, changes materially the picture. And my interest.
-- David M Gordon / The Deipnosophist

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