Since we BROKE TROUGH the $30 PTR with nice volume on the 27th of February; we have spent the past 9 trading days RETESTING the $30 PTR. As I told you: "RETESTS" are somewhat unpredictable events timewise. I have seen one-shot deals where they quickly RETEST and off they go, and yet I much more often see tediously long and belabored repetitive back and forth (over and under the PTR) RETESTS such as we are doing currently. When we last RETESTED the $25 PTR on SRPT (December 7th-25th); that RETEST took 17 trading days.
God bless....Bud Rolfs
Your predictions was that we would either blow through $30 and move much higher or we would drop to $25. I guess either way, you set it up where you can claim you were right. Here is my prediction, the stock will go up or down today. I bet i am right.
Zerp--you must really be proud of that "DUMB ASSE" streak that runs right through the middle of you
as you love to show it off many times a day on this MB.
Of course it is good to have SOMETHING to be proud of!!!!!!!
HERE IS EXACTLY WHAT I SAID WORD FOR WORD COPIED AND PASTED FROM MARCH 7th:. SEE ITEM 9. READ SLOWLY AND GET HELP WITH THE BIGGER WORDS.....SO FAR THAT IS WHAT IT IS DOING ON A CLOSING BASIS.
"RETESTING A PTR
1. $30 on the SRPT DAILY CHART is what we call a "PTR". (PRIMARY TRADING RANGE".
2. Every stock has such PTRs; but they are at different price levels respectively for each stock.
3. PTRs are the STRONGEST HORIZONTAL forces of resistance and support (depending on which way price is moving).
4, The "GAP" between any 2 consecutive PTRs is CONSTANT all the way up and down vertically on all stocks on their DAILY CHARTS. (This is also true for their WEEKLY and MONTHLY charts as well, BUT the PTR GAPS can WIDEN as you go UP to WEEKLY and even more to MONTHLY.)
5. On SRPT's DAILY CHART; the GAP on the DAILY CHART between these PTR levels is $5.; so there are PTRs (for example) at $30, $35, $40, $45, etc.
6. PTRs are so strong that they can often "TRAP PRICE" in a sine wave cycle for extended periods. Such a cycle existed on SRPT between November 12th and perhaps late last week, as SRPT is trying right now to BREAKOUT OVER THE $30 PTR.
7. To get a true BREAKOUT, you MUST first get a CLOSE over the PTR in question. (which we' got on Feb. 27th initially).
8. Any attempt to BREAKOUT OVER A PTR will almost always elicit an immediate RETEST. (If not, you will eventually get a DELAYED RETEST.). "RETESTS" are often NOT ONE-SHOT DEALS. They are OFTEN MULTI-DAY EFFORTS INVOLVING CLOSING OVER AND UNDER THE PTR UNTIL THE STOCK IS SURE THAT IT IS ON THE CORRECT SIDE OF THAT PTR.
9. If SRPT does FINALLY confirm (for instance) that it DOES want to stay ABOVE the $30 PTR; it will then begin to do a SINE WAVE CYCLE BETWEEN THE $30 and $35 PTRs just as it did between the $25 and $30 PTRs.
10. However; if SRPT FAILS to hold over the $30 PTR; it will most likely return to cycling between $25 and $30 PTRs again.
God bless us..and SRPT...and especially the boys and their families...Bud