I agree with others on the board. TEN is headed for another correction. No reason to be brought up this high. TEN had a blow off top last week that resulted in capitulation volume on the upside. Yesterday's fade at the top of the blow off signals the end of the run. Ten may test $17 one more time for a double top, but I doubt it. TEN is done for awhile, and will see single digits again by the end of the year. Hope everyone enjoyed the nice ride up.
Don't forget to lock in your profits from the crooks on wall street.
I can't beleive my father is riding this pup down. I tried to get him to sell at $17 3 different times, and even showed him the chart of TEN breaking down. He really thinks it's going back to $30. I told him when it was at $17 that it would hit single digits again before TEN sees $30, if ever. I tried to tell him he could sell now, and buy back alot cheaper.
I guess it's just the father son thing. If his best friend had told him the same info I did, my father would've sold in a heartbeat. lol
I guess father knows best syndrome kicked in.
My short term target for TEN is $8. Back in June and July 2009, TEN double bottomed at around $7.96 and $8.14. I think this will offer some price support for awhile, but could eventually get taken out.
The next runup may make it to $14 level before the plunge to single digits.
$14.91 is the new 50 day moving average. I beleive its moving up 10 cents a day. It will be hard for TEN to take $14.91 out today IMO.
If you're looking to get out, right now may be the time. As I type, TEN is $14.88.
just play the swings... day by day. till it gets down to 13 then get a bit more careful.
i got in @13.8 and keep those till ten hits 10, provided no better than expected news would prompt me to cover earlier.
for the past two weeks i was just playing the swings.. took me some time to figure it out, but it works like a charm. pattern is the same... trending down but very volatile. will climb .5 to 1 before loosing another .5 to .8 often happens the same day sometime the next but quite predictable.
milk the cow while you can
Well, I missed the top ($18.11) by $.65, but it looks as if I called the double top. Notice how TEN had a lower high this time around? I assume this will be followed by a lower low, below $14.59 that was put in on August 17th, 2009.
Now, let me see ... that depends on ...
- your investment horizon
- whether you are a masochist and to what degree
- whether you hate doing the right thing
- whether you are a procrastinator
I can give you a complete list... but here it is ... for starters ...
Hope that helps. GL !