Change in volume-temp exhaustion, short term overhead resistance. Approx. Avg price 52+
Will post in detail later. Minding NVEC short position and tick volume flows
But if Fibonacci's right, it looks like NVEC has touched bottom for the day, having bounced off the 50% level and crossed the 0.618 level a while ago at app. 47.50 (using 5-min chart). I think that if it crosses this higher level again, the uptrend will be for good.
Scanning the last 2 days of posts.
Yesterday 3/22/04 at 11:41 am You posted a
Change in volume-temp exhaustion, short term overhead resistance. Approx. Avg price 52+"
How did you come up with a short yesterday morning? This was even before development of the Hamari Cross. What tunned you into the downside? Dare I ask...what are you looking at now...NVEC is $47 at 10:20AM?
I and just about everyone on this board was thinking maybe $60 or more soon.
You just don't understand this stock--it could be up as easily as it could be down. Lots of wide swings. Just don't get caught holding the bag. We have a lot of good news now and at least it is swinging in an up direction.
The fundamentals remain pristine as does their balance sheet. Good Luck
This post lacks the usual detail that has accompanied prior post.
I am/was buoyed buy the appreciation and upside volume until I saw your SELL/SHORT flash.
If I understand it correctly this is "a traders response" to "temp exhaustion" in volume. How can there be exhaustion in volume when we're trading millions of shares?
"short term overhead resistance". Since I'm long I'll take encouragement from the fact that you see the overhead resistance as a "short term" (intraday, several days?)in duration.
What's happening with the "tick volume flows" that would cause a trader to reverse?