Look at my original post. 36ISH. ----------------------------------------------- Sorry, bdgross7. I guess I was too eager to respond. I get a bit annoyed, frustrated and defensive with the 99% of the longs who get so damn hostile to ANYONE who brings up the slightest negative thing about their "beloved stock"- especially the ones who try to shout me down with insults. DON'T TAKE IT PERSONALLY, GUYS!! I'm trying to talk about the stock, not your collective manhoods!
Apparently I think too highly of my fellow investors/traders. I thought most would be civil and reasoned about their long or short positions, but the vast majority of comments are the- "this stock is going to the moon" or "this POS sucks bigtime"-variety. Not much to discuss there. Why don't you guys quit the cheerleading and bashing and try to say something worthy of everyone's time and attention???
Nevertheless, I'll give it another shot since bdgross7 is at least doing SOME analytical thinking along with the cheerleading.
Your point is taken about 36ish being previous support/resistance the past few months. But I would refer you to the first 9 months of 2004 when SYNA traded in a range between 22"ish" and 13"ish". One could make a case that 18"ish" was a pivot point with the price oscillating through that several times up and down, similar to what you claim 36"ish" to be currently. I'm just playing the oscillation here at 36"ish". My opinion is that the gap under $35.00 is much more of a factor than the 36"ish" support/resistance level. Like anyone else, I'm just making an educated guess. If I'm right I make some money. If I'm wrong I lose some money. No big deal. There's always another stock out there with a good looking chart, short or long.
Just remember folks, don't ever fall in love with your stocks. Did that a few times in 2000 and got burned but good. SYNA is just another stock. It might turn out to be a MSFT,INTC or CSCO. Could turn out to be a Global Crossing or Enron, too.
<Insert sarcasm here> PS- thanks for the heads up on the Fibonacci retracements. I had no idea they had real numbers assigned to them!! Thought it was just some wild-ass guess. <End sarcasm>