chasing stocks

the sharemarket is always full of opportunities...both to make money and to lose it.

sometimes it is wiser to wait for stocks to reach your price, than to chase the stock price up.
however, sometimes you have to be flexible and chase it up a percent or two...the market always knows best and some opportunities wait for no man.

I still have not bought into SMM although it has been close to my buy price a few times. (a couple of times my order would have been met if i hadnt pulled it due to my feelings about the market in general).

a range trade offers limited reward, so you have to be careful about how much extra risk you take on.

if SMM broke above that range, i would have no hesitation in chasing the price up a cent or two, but at this stage im still on the sidelines watching the bears and bulls struggle for dominance.
fascinating, we are getting lower highs, and higher lows...I feel something is about to give.