There are only area's where Wall St facilitates the buying & selling of stocks based on some fictional thing they've gotten everyone to buy into- (namely resistance & support). In reality, they don't exist, but have the appearance of it because enough people believe they are real. Doesn't stop anyone from losing money though.
F&*K all that noise and just buy this thing up to $8 without selling. I hearby proclaim the new resistance to be $8 so everyone just put that in your memory bank and use that arbitrary figure and pretend it's real so there should be no selling until then.
That's true.. good point.. There was a segment on CNBC last night regarding Resistance... The guy who was talking about it... lets put it in simple words... he said exactly the same thing as you just did... Now that leaves me wondering.. the old guy on CNBC.. was that you?? LOL