[briansmith456]

All my friends were buying FSM (silver miner) in the 2.50-3 range and I kept telling them I did not want to take the risk as it was not a proper setup based on the Weinstein method. They are all laughing at me now as they are up huge.

Well, good for them, but if they aren't following a defined methodology with an edge, then it's just gambling. I don't know them, so they may be following proper rules of a different method, as there's many ways to trade. But be very careful not to fall into gambling. As it's easy to do. 

Trading is not about what other people are doing. All that matters is that you are making consistent gains, and minimising your losses, but using proper risk management and trading high quality setups.

In the $2.50-$3 range it was still in Stage 4. So, a big no no in terms of the methods rules, as you don't ever buy a stock in Stage 4 if you are trading with Stage Analysis. It's now just entering Stage 1 from its rally this week, which with a laggard like this, may be due to short covering, or may just be getting pulled up with the move in the Silver sector as a whole. Either way, if you are following the methods rules, it's currently breaks a lot of them, which is why I didn't highlight in the watchlist with the other silver stocks. That doesn't mean it can't move 100%+ or more from here possibly, as "a rising tide lifts all boats". It's just that following Weinstein's rules means that we look should be looking for higher quality setups in the silver sector that are just moving into or are in Stage 2 already, with strong relative performance above their zero line, strong volume on and following the Stage 2 breakout or continuation, and little or no recent overhead resistance. So look for silver stocks like with those qualities if you are using Stage Analysis.

See pages 129 and page 338 in the book for Stans Don't Commandments etc, as gives a good list of some key rules to keep in mind.

Thanks for the quick response Isa. I appreciate it.
I will look more towards the silver miners on your watch list that you posted to see which are not too extended.

Brian