I think we may be seeing the beginnings of a correction right now. My guess is that we will be closer to unchanged today and see a correction back to approximately $30-31 for perhaps a week or so.
How do you like it, I didn't even follow my own prediction when I said it would correct. Still I did seem to call this one as I did Fridays (all this despite "smoking a banana peel" I believe I was told)(I got burned out of TZOO and was prevented from getting in on TASR- so I decided to stick it out)
My projection now (since I seem to be correct the last 2 times now) is that it will correct down to 30-31 range (could even test mid to high 28, but a little doubtful) I would suspect tomorrow we test 30-31 range and base for a few days to a week (by base I mean 3-4 range)
What do you think?
I agree i took some off the table here.
im fine with the gains i have should it run on.
But at some point you need to cash in a portion after such a run.
Todays action is weeding out the traders on the sell side. I am hoping it bases before another run up but if not then gone with the wind she shall be
No, not expecting any corrective trend.
The breath holding part of this scenario is our FDA. If they come in with their approval of VelaSmooth soon as hoped, we will all be vela rico.
This can happen in one hour in one day and if you're not on it, you might be in the dust. On the other hand...........
With those big spikes in volume, it looks like institutional buyers are involved, and they are in more for the 'long' term, rather than the day to day selling.
But then by looking at the curve, there don't seem to be more than 3 days in a row of growth before a correction occurs.
this stock is in play. 10% of the float changing hands every day. If the short interest moved up in Nov. short covering is probably adding fuel to the fire. It's up 2 bucks today and you call that a correction? I think you're smoking too many banana peels. if the volume picks up from here we haven't even seen the rocket leave the pad. check tzoo tasr and goog if you want to see a full frenzy. I smell just a hint of fried shorts, I'm staying until the meal is on the table. But hey, if you imagine yourself a swing trader with a crystal ball sell it short and make money on your correction.
"smoking too many baana peels"?
Perhaps if you retook english class you would be able to understand, as many others did, that I was forcasting $36-37 as our top and expected some consolidation afterwards. I realize this will probably come as a shock to you, but even the best stocks do not go straight up.
I also have stated here time and again that when a stock makes this type move upwards it becomes exceedingly difficult from a technical aspect to forecast short term movements. (aside from a blow-off top).
I did not make any insiuation to selling or shorting this stock. In fact, in a future post I said just the opposite.
I would appreciate it if you could conduct yourself like an adult and have a simple meaning conversation/debate. If you are not capable of this then I suggest you refrain from commenting to me.
I'm about 50-50., but for a possible gain of only a few points, I will not make a move either. This stock is not even close to being finished. Institutional ownership continues to rise and is still only approx 10-11% now.
I think any correction will be mild (the numbers I gave are the outer limits) and short lived.
I just make predictions every so often to see how close I can be. I still think there is a good chance we will not see acorrection until after 40.
This stock reminds me of when I held DELL in the mid-90's ...man was that fun.