$8 was a 50% retracement from the recent high of $12. $7.60 was a refusal level from the previous leg down in the end of June, and was a 55% retracement. $7.60 could now act as resistance to a resumed advance- we'll see. The recent lows over $7.10 encountered price support established this past Spring. More importantly, that level is a 61% retracement from the $12 highs, and a 61% retracement is a number that has some significance technically. IMO- the uptrend that started in 10/2005 at $4 is still in force, but it's now entering a key area where some constructive bottom building needs to happen. The breakaway up-gap on this morning's intra-day chart is right along those lines.
Now this terminology MAY be a bit technical, but here goes-
Blue (yes, the SUPER GENIUS! :o)
Who made the call?!!!
Now me I call ya, Bluehorse, the guy with 10,000 shares at a basis price of $8.60. Am I wrong?
Nice to see ya anyway Bluehorse. Update us on your Blue-Davey Challenge results. I'll do mine in the morning.
Well, in the short term, the technicals say it's getting a little overbought and is due for a retracement soon (which I'm sure remo will pounce on opportunistically and claim that the party is over and it's headed down to new lows), but in the long term, the company and the stock will do just fine, and it should go back to double digits eventually, as I've always expected.
Not sure its good to see ya Hog. You again seem full of yourself. KKD is still a dog. If it makes it to five or a bit over I'll be out with some opportunity cost but a big profit.
Talk to me about TNRO.ob. As I recall you were the small cap BB expert. Rather than being so arrogant. Remember you specifically posted that I got you out. Keep that in mind as you flame on.
Yup, they call me "Blue... the SUPER GENIUS!"
This bad boy's looking good for $4-$7 bucks. Within 60 days, I betcha!
After all, how can ya' go wrong with doughnuts in a recession? It's one of the perfect feel-good take out treats! Shoot, I'm gonna head on out and get me some right now!
Thanks, Remo! How's it going these days? I hope you finally listened to me got out of NTRI! Remember I said to jump at $70? Oh well, it probably doesn't matter now, the damage is done so might as just hold it, huh?