that was a 250% price increase, then consolidation pattern...oh, it did retrace by 40% (2 pt decline)...I'm sure there were shorts screaming "strong sell"!! Now NICH flew from 5 to 9, another 80% price increase, but alas, it has retraced two points (50% correction). Oh woe with me that there should be a correction or pull-back, no, that is not allowed...stocks must always go up 80% every other day else they are a "dog" or "POS". And I suppose if you scream "strong sell" long enough, you will eventually be right, after all, even a blind squirrel gets lucky and finds a nut. Now, to be serious for just one minute, (ok I was being serious), this is a fast moving market, if your not experienced with fast moving markets, the volatility might scare you. However, all NICH has been doing is a little bouncing around between the recent highs and the previous high (@ 7.00). It might retest 7, but technically the stock is still very strong and it won't take much for it to start flying back to the upside. The sell-off over the past few days has been on very light volume and indicates the bulls are still in control. Now, Stockman you were a screaming "strong sell", you covered when the stock was still above 8, so the best you shorted would be at the top, 9+? My congrats on picking the top and making a whopping point... is that what a "strong sell" reflects? On this stock, if your not long your wrong and 1-3 days of correction doesn't hurt anything but alleviates the stock out of over-bought and sets the stage for next leg.
posted indicated "strong sell", so if you made money on your short, you would have shorted well above 8, I don't see the risk/reward being that terrific, only blind luck, might as well go dodge rush-hour traffic to pick up a quarter in the middle of the freeway.
As to my long term analysis, no change. You can quote me all day long on that one until the market presents different info.
Lastly, if I'm not allowed to change my short term / long term analysis, then you are ridiculously naive about the markets and you my friend have a lot to learn or you will soon be parting with your trading fund for such foolish way of thinking.
You have now stopped your "strong sell"? Hmmm, have you changed your mind? No, no, no, you can't change your mind (haha)... now I've wasted enough time bantering with you...
davebrie - you made a wrong call - why not admit it? we're all human. is the stock still acting well technically? you changed your story, each time it goes down, as i predicted you would. thje problem is..you like the stock,and you like to say it acts well technically so you make a sceanrio to suit your need. first it was in a trading range of 8.1 to 9.1, then 7.5 was the bottom. now , lets go back to when it was 2. you were wrong. i was right. i sold a bit early but i was right.
on a short term basis, I expected the stock to hold around 8 (based on the information at that time), of course I have to change my outlook based on new data, each trading day provides new information and new insight, only a fool would try and stick to his original analysis when the market is telling him something different. On a longer term basis, I am still pointing out to a rising triangle pattern, and recent correction from 8.9 is A-B-C correction which I mentioned yesterday, (a-b-c flat correction), if your not sure what a flat correction is, it is a bounce between recent highs and lows... 8.9 - 7.27 - 9.19 - 7.14 / in this scenario, the stock will like to retest the highs @ wave 1 (6.95), which is why we could see a little more selling pressure tomorrow, by the way, I am not a technician but a chartist, there is a difference and you weren't right you were damn lucky and foolish. Any one who shorts this type of a stock has to have some strong masochistic tendancies 'cause this baby is going to fly back to the upside and can blow right through your limit orders. Put it another way, the risk/reward ratio does not warrant being on the short side, at least not at these price levels nor with the type of swings.