"I notice from Monday's Audio that you are thinking about "nibbling" at a number of shares.
1) May I ask if you put in a preset buy order for a particular level?
2) What factors make you conclude that the time to buy has arrived? I think you said you would be tempted if you see the lows retested. Would that means for example that if you were buying the NASDAQ Composite only buy if it reached the low of 8th August again?"
David Fuller's view Thanks for
an interesting question, likely to be of interest to other subscribers.
The Audio is an effective mechanism for sharing my thoughts with you, regarding what I consider to be a developing situation of increasing opportunity. However, my tactics are seldom etched in granite but your first point certainly has merit, although perhaps best done incrementally.
I probably would be tempted to nibble on a retest of the lows, although it may depend on how markets get there, assuming they do get there, as they easily could in my view. However temptation is everywhere, in practically every sphere of one's life, so we need discretion and whatever wisdom and perspective we can summon.
Identifying buying opportunities can be like pornography - not always easy to define but we usually know it when we see it.
Currently, I would be wary of buying the Nasdaq Composite (weekly & daily) on a first test of the 8th August low. All we have seen is a rally back beneath the top.