I LOVE the thumbs down. It lets me know how many people on this message board are information deprived idiots. C'mon, just 4 thumbs down?. Geez, I thought I would get at least 20 thumbs down as I have never found a message board so deprived of intelligence. I guess most of you don't even know how to give a thumbs up or down. Understandable.
Is this moronic trading?
Status of account for 2007: Profit of $9,758 per 100 shares after losses and commissions were subtracted.
Status of account for 2008: Profit of $14,704 per 100 shares after losses and commissions were subtracted.
Status of account for 2009: Profit of $7,523 per 100 shares after losses and commissions were subtracted.
Status of account for 2010: Profit of $24,045 per 100 shares after losses and commissions were subtracted.
Status of account for 2011: Profit of $3,616 per 100 shares after losses and commissions were subtracted.
Status of account for 2012: Profit of $3,399 per 100 shares after losses and commissions were subtracted.
Status of account for 2013: Profit of $15,886 per 100 shares after losses and commissions were subtracted.
Status of account for 2014: Profit of $21,221 per 100 shares after losses and commissions were subtracted.
Status of account for 2015: Profit of $19,190 per 100 shares after losses and commissions were subtracted.
Status of account for 2016, as of 5/1
Profit of $10,495 using 100 shares per mention (after commissions & losses)
You have now earned a place on my ignore list. Your words are not worth reading.
6.70 has no importance on a daily closing basis. A close above 6.61 would be a "small" positive, simply because the bulls would have accomplished closing in the upper half of the present trading range (6.34-6.88), which in turn would suggest that the traders will likely attempt to take the stock above today's high at 6.88 and test the gap area between 6.91 and 6.97, which still represents a decent negative.
Nonetheless, the entire market is reacting to the selling seen because of Brexit and since Britain seems to be in total disarray right now (been listening to the Prime Minister in Parliament talking) and there seems to be no answers right now, the probabilities do not favor the indexes generating any kind of rally of consequence and KNDI rallying as well.
Keep a close eye on the 16970-17037 level in the DOW because if that level of support breaks, it is likely that panic selling will occur as the next support level is down at 16333 and if that happens, it would not be at all surprising to see KNDI at 5.05 before the end of the week.
Your nick (tampon_man) certainly fits your character. It was a perfect choice. Have you considered therapy? a trip to the hospital to remove the tampon? or perhaps just some ex-lax to relieve the constipation you are going through?
On a positive note though, have you tried signing up for the cartoon character convention?
I got stopped out at 6.43. Loss on the trade of $20 per 100 shares plus commissions. No interest at this time in buying. Stock could fall down to the 3-year low at 5.05 off of this.
Has anyone recommended anger management counseling to you recently?
If you don't go soon, you might just burn up in flames.
Decision time is here. Indexes have reached next level of support, some bounce could be seen. If no bounce is seen and the DOW breaks below 17037 and the SPX below 1993, panic selling will likely occur.
KNDI was expected to get down to 6.50 today but if the indexes head lower and KNDI triggers stop loss at 6.43, it will likely see more selling and a possible, perhaps even likely target of getting back down to the $5 level.
KNDI generated a red weekly close but it was not an unexpected event as the recent double low at 6.10/6.11 had not yet seen a successful retest. The stock did close in the lower half of the week’s trading range, suggesting further downside below last week’s low at 6.59 will be seen this week. Nonetheless, in spite of the strong drop in the indexes on Friday, the stock stood up well, having just slightly broken one minor to perhaps decent intra-week support at 6.71 but then generating enough buying to close the stock 29 points higher than the low of the week and only 7 points below the mid-point of the week’s trading range, suggesting that even though further downside to the 6.50-6.53 level could be seen this week, there is enough buying interest to suggest the stock might survive the onslaught of selling being seen in the indexes.
The stock did gap down on Friday between 6.97 and 6.91 and as such the 6.91 level is considered resistance, especially considering that there is a previous but minor intra-week resistance at that level as well. Additional resistance is found at 7.18 that if broken would give the bulls an edge. Probabilities slightly favor the bears this week but likely on a minimal basis and only for a further drop down to 6.50-6.53. Stop loss should remain at 6.43 because if broken, the probabilities of the stock heading down to the $5 level will increase, in spite of the decent support at the double low at 6.10/6.11.
I just finished doing the chart evaluation on the indexes and I did not discover anything that would change, ameliorate, or positively affect the market. In fact, considering the Death Crosses in the indexes that I have been talking about for the past 4 months, the charts are now strongly suggesting that the kind of action seen in 2001 (when the first Death Cross to the downside occurred) is becoming a likely scenario. In 2001, the Death Cross in the DOW occurred 12 weeks before the index actually started to head lower (the Cross occurred this year 14 weeks ago) and on that occasion the DOW dropped 1518 points once the downside got started. The index then bounced above the previous high but then got into a 20 month drop that took the index down 3500 points before a bottom was found.
The Brexit news is a game changer that unfortunately for the bulls the full outcome won't be clearly known for anywhere up to 2 years, meaning that the possibilities of the same kind of scenario as seen in 2001 are high.
On a shorter term basis (like this coming week), the damage done to the charts is extensive and not likely to be negated this week as the fundamental negatives will not change. In fact, the fact that the traders had to react to the news in just 1-day before the weekend came up, does suggest that more (not less) selling will happen this week.
In addition, all the indexes have some very pivotal support levels now close-by and if those get broken the probabilities will favor some panic selling and knowing how the traders think and how the market works, it is likely that the traders will "push" for those breaks as the market is set perfectly for something of consequence to occur and for the traders to take advantage of it.
Downside objective in the DOW could easily be the 16333 level to be seen over the next 2 weeks. That is almost 1100 points lower.
The opening on Monday could be a big clue. If the NAZ gaps down (especially below support at 4678), it could get ugly