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Skullcandy, Inc. Message Board

  • michaelsistowicz michaelsistowicz Feb 4, 2013 7:10 PM Flag

    OP - if I sell out tomorrow....

    Will you buy in? I may need what Andrus has left of his stocks carnage to have any hope of retiring before age 85! You may have won my friend.... :(

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    • Okay, this is truly the most bullish post I've seen yet.

      You need to keep in mind I'm trying to get long and the long term chart is on the edge here.

      Shorter term, it has fallen out of the trading range but not with a sign of weakness. This could just be a spring, a test of supply or a shake out. Give it till the close tomorrow to prove itself, unless of course a sign of weakness comes in.

      This is what they do when they are accumulating, they tire you out, make you give it up. We need to see those short interest numbers yet, remember?

      The January low, $6.34, the month with the highest volume EVER, has not been tested yet. I want to see it get tested. On a monthly basis there is NO DOUBT it will be on lighter volume IF it can happen before earnings. We want the test to close above 6.34. We want the test to be on lighter volume on a daily, weekly, and monthly basis. The monthly, no problem. This weeks volume is already off to a slow start. So we just need a light volume test on the daily.

      • 1 Reply to onepoint272
      • Now even If you think you need to sell, well, you know, with the number of shares you have, you could be playing hard ball, day trading, with part of your war chest. If you can capture a dime move on 10,000 shares that's a $1000. You know how this trades, you've been watching it for a long time now.

        So you wait for some strength, wait for the 5min to hit a resistance level and/or a pivot level and the 14,3,3 full stoch to cross below the overbot level, and then sell part of your stake. You are out for the day. The number one rule of day trading is to remember you are DAY trading, get OUT at the end of the day.

        Then the next day just watch it the first 1/2 hour. You don't buy unless it is above the pivot point (bull territory). If it opens above the pivot you wait for it to come down to the pivot, watch how it reacts and if it is finding support and the stoch is crossing above oversold, buy it, and place a stop. So far, your out nothing, and you have a better position, you sold high and bought lower. Then watch it as it comes into the next higher pivot level, if it cuts above like knife thru butter, hold, if not sell. But definately sell before the close, no matter what.

        Of course you need to be cognizant of where support and resistance are on the next time frames higher, the 30-min, and on the daily and weekly charts as well. Which are merely the highs and lows of the high-volume bars. You cut your losses QUICK. No looking back. Move on, always look ahead for the next setup.

        If this is your 401k then you can only go long, which is fine. You just wait for those good setups. And, as well as you know this stock, I think you could pull some money out of this thing. Just a suggestion.

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