Intraday today, looking for a bottom and a new trading range to form...Google news will be a factor and also provide cover to start new positions by covering or closing most of the shorts until mid February - Not for the faint of heart!!! Traders dream is this type of almost measurable volativity.
Yes . I do tech analysis . No way is this going down any further unless " IT CLOSES below 70 ." Intra-day means nothing ...PS-When it got close by 71 range , did you see buying with a move up ? That is big bottom support . This could move to range of 90-97 in a heartbeat in a range of 4-8 days . I doubt very strongly that we see any of the doomsday predictions a lot of clowns state . I don't profess to know all , but believe me - they don't know much !
Dear unclefreddy, I hope that you are well, these are not doomsday predictions, just observations supported by the trading volumes. You are right, that there was an intermidiate support level at $71ish but had to be traded very quickly...Hope that you got out as the major levels are in the low $50s...Looking for the next trend to begin today....
It is such strategies, with a combination of stop orders that interested parties will use to push you out.
If I hold enough of the stock (and there's very little of it out there) so that I can play with you ... and ... you tell me (a message, a visible stop order, your mentality) that you're going to sell at some level ...
I have no choice but to take advantage of that and drop the stock to the level where you will be forced out. Just too easy not to take advantage of.
A suggestion for your future trading.
Keep quiet about sell intentions both on message boards, in your thinking, and especially in your trading orders. For example, don't use stops, rather use your broker's triggers. The first are visible to the ones that care to look, the latter are not.
Sell, buy, whatever, just keep quiet about it for your own financial sake.