OVERBOUGHT,OVERSOLD,THE,ALCHEM finance, share, loan OVERBOUGHT/OVERSOLD
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THE ALCHEMIST by AL THOMAS OVERBOUGHT/OVERSOLD Has your broker ever told you that a stock isoverbought or oversold? He probably went onto explain that the stock you own (I hope youdidnt) had gone down so far that it now wasoversold and due for a rally. He might also haveencouraged you to buy an equal amount to dollarcost average your position so that when (if- hedidnt say that, I did)) it did go back up youcould get out even. He might even say you couldmake a fortune. Waiting to get out even is the great trap that is preached by all the big Maul Street brokeragehouses. What is even worse is most brokers andfinancial planners believe it. What happened toall those beautiful company reports sent to youtelling how wonderful this stock was before youbought it. Maybe you better read those back tohim. Brokerage companies do not want you to sell. When any stock is going either up or down for any extended period of time it does seem logical that it can become overbought or oversold, but lets examine what that means to your ownership. The reason a stock started up is because theunderlying profit projection is going to producesubstantial profits that will make the stock morevaluable. At some point it is going to reach atrue valuation and should stop advancing. Whatusually happens is it goes beyond true valuationto what could be called overbought (over valued)and then starts down. You may be encouraged to buywhen a particular stock becomes hot and everyoneis buying it. When all the sheep are buying youwant to be a seller or you will also be sheared. Suppose all this was in anticipation of futureprofits that did not materialize? Then the risewould turn over and head down. This would be morelikely for a smaller company than one of thegiants, but giants have been toppled. If any fraudwas involved the company might even go bankrupt. Think back to WorldCom that went to the moon andwas finally flushed down the sewer. Did it EVERwhile it was tanking become oversold for a rally?Not hardly because there was no value. Unless youtruly understand how to trade overbought andoversold situations the best thing to do is keepyour hands in your pockets. Beauty is in the eye of the beholder. Overboughtand oversold is in the mind of the buyer/seller.
OVERBOUGHT,OVERSOLD,THE,ALCHEM