That was me selling at the close! Hope to buy back at a lower price .My reasoning is the peaks are trending down.FONAR needs a rest. (Would like to have checked out at $6.70).I promised myself I would BUY and HOLD this time around but I didn't have a good feeling.We'll see. GOOD LUCK!
Rich two type volumes to watch. One is total obviously as if it drops off to the norm, the sellers will drive it down. The second is the one that will act as an omen for the first: The down volume (red trades) being consistently higher than the up volume (green trades)
If one studies the volume of the up tick and down tick, can help presage the next few minutes or the day.
Can turn either way on a dime, but sure feels stretched upward to me, but been wrong on the FONR run so far, so what do I know?
I think that was a mistake. This stock tripled in a month, was up 30% yesterday alone and it didn't even retest this morning's low of $5.95 in a down day. Looks like selling is done. It will be another up day tomorrow IMO.
I closed out margin and booked profits on 1/3 the position.
Same rationale consistent with today's candle of indecision.
Pullbacks could be nasty, but I think we will at least resume to dancing along the upper bollinger band. We are currently way above it. Normal corrections would retest some moving average. This is too strong for that, but a pullback to the mid 4's in an extreme and into the mid 5's is fairly likely at this point. I'm willing to let 2/3rd ride if we keep doing the 30% dance...