The New Sell and Sell Short: How to Take Profits, Cut Losses, and Benefit from Price Declines, Expanded Second Edition

JUST IN TIME FOR THE PARTY

These three charts of Deckers Outdoors (DECK) (Figures 10.3-Figures 10.5), along with several intraday charts omitted for the reasons of space, came recently from Steve Alcorn, a member of SpikeTrade, who wrote: “I’ve attached my diary from my very first trade, which was on March 10, 2009, the first day of the big upmove. I went long DECK, which headed upward for six weeks. I traded the stock awkwardly, but made a profit. A lesson, as I look back on those halcyon days, is that there were many, many opportunities all of a sudden, and one could make money without a lot of experience and skill, so very different from the current environment.”

Figure 10.3 Just in Time for the Party

DECK weekly with two EMAs and an Autoenvelope MACD Lines, MACD-Histogram and Force Index

Figure 10.4

DECK daily with two EMAs and an Autoenvelope

MACD Lines, MACD-Histogram and Force Index

Steve is a modest man—he is a strong performer in SpikeTrade. The comments on these charts belong to him. I’ve often said to my students: it is hard to teach a good skill—but even harder to learn it. It looks like Steve has heard my lessons—and had the courage to apply them at a time when many people were fearfully hugging the sidelines.

There is not much to add to Steve’s comments ...