Stepped away and just came back to see Master has done a triple top test of Pooch at the ~$17.30 line? I say triple because....well...just look at a 2-3 day chart. ;-) Anyway.....this gets interesting from a TA point of view because while those tops have been explored the stoch's have simultaneously been sinking back downwards into well oversold territory. Buy side set-up.....setting up!? ;-)
Let's see how it plays the remainder of today and tomorrow. Bid now $17.27 and showing strong support.
Yeah...the talking heads all say that every time there's a burp or fart by the market. Comes from being a 24x7x7 organization....after a while you run out of substantive things to say so's you start chattering and gibbering. Bid just got blipped to .14 before bouncing...it's been a straight line decline from .25 so far....so....this thing is still on that downtrend line...meaning so long as it stays south of it there's no further upside....but as always this could turn change in an instant....excepting did I mention this one chugs and churns? On a "wide-out" 2year TA chart basis this one looks like a pennant formation with the bid continually hitting the upper bound of it......but by that same metric this one could doing this same thing for some time....
Come on Master, feed da Pooch some amphetamines or sumthing....we all would like to see more bouncy bouncy! Errr.....or maybe that's just me. ;-)
Master again walking Poochie back into the heart of the swamp. Which makes me think gap theory might apply here.....meaning there's yesterdays opening gap that needs to be filled...so.....sub $17.10 might be "doable." Indeed the sell side is back on their tactical game and the bid is being shoved southward...now $17.15 and falling....
Think I'll run down and wave another bid down around the $17.05 line...
Bid $17.18. Looks like Master is walking Poochie back into the swamp.....it's doubtful we'll see the $17.singles but....you never know with this chug and churn beast...one thing seems clear (to me)....I must not be the only one whose systems are keying off that downtrend line....
Well I had an open trading bid in south of $17.20....which got hit at session open so I'm cheering for your $17.40. Yesterday started off with a similar yank...let's see if the end results are the same....by the way...that much mentioned downtrend line I track sits right now at ~$17.21....and looks to end the day just a bit north of .20. The bid's already "bounced" once off it. Let's see how it plays in Masters dynamic...bid $17.24.
Yup...bid $17.28 going into the final 10 minutes....if there's any sort of buy side imbalance then +.30 is doable...come on everyone! Let's get out, behind, and shove this Pooch's nose northward! ;-)
Huck: My WAG is if the bid closes north of my downtrend line, on volume (which is "only average" so far) then the set-up is a breech of your $17.40.....but given all the "back-n-forth" at the ~$17.35 line that occurred from ~Nov 5 to ~Nov 12 I do NOT expect to see the bid get thru that zone easily. If it does....well...that'd say sumthin', eh?
All while Wall Street was running to the bank of course. Errrr....so to speak.
On a more focused point....hey....pssssst....bid $17.27. Don't nobody tell Master but it looks like the leash is slipping off da Pooch. ;-)
Anyway.....there I was thinking Poochie was gonna suffer another swampy drowning after such an enthusiastic beginning so I turned to other "tables" for a minute or five. Then, suddenly, here in the last ~16 minutes a solid (using ~3M shares) buy side push pulsed the bid from .17 to .25. Poochies nose is right back smack at that much mentioned downtrend line and looking to scrabble back on top. Let's see if this is a big Masterly head-fake into a gagging YANK-back into swampland or....maaaybe....JB_investor is right? Let's see how the rest of the session plays out....
Codi: LOL! If I had that kind of control.....well......I certainly would NOT be talking about it. I'd be PLAYING it! And from my own private island, too. ;-) Anyway....the bid's now back at .18 so that downtrend line, plus the great swamp, remains in effect....for now...we've got a bit more than half a session left to do something.....if it can go back up and close near the high, or high, I'd say that's a good signal for more upside. If it retreats yet again back further into the swamp or below...well...false start, another head fake, and you'll probably get yer wish.
For now the sell side tactical game, which was absent earlier, is back in effect. The 'ol chug and churn process. Bid just dropped to $17.17.....regardless...I think I'll open a trading tranche in this area....the intraday TA is signaling oversold and a buy side set-up is...setting up. Let's see how it plays...
"..hope BAC doesn't make too big a move..."
The 'ol Chug and Churn darlin'? Nah...doubt it'll move too far. It's testing moving higher but it won't be any speed-boat...more like a heavily laden super-tanker wallowing in heavy seas....anyway...Master allowed Poochie to poke his nose a bit north of my aforementioned downtrend line, and now has pulled him back south of it. Bid $17.21. Although we've got the makings of a reverse HnS formation confirming (on the 5 day chart) the bid will need to stay north of that line for true confirmation....at least...for me. For now it may be beyond that $17.10 to .20 "swamp" but the ooey gooey remants of it are still sucking at Poochies feet....and could suck 'em right back into it as per the usual chug and churn game. Let's see what actually happens.
Bid now $17.22.
Okay....somebody go over there and calm down the clan Knfcgs. ;-) (Remember the Jan $17 Option worry?) Heh!
Anyway...it could still be a worry but let's see how it plays....from here upwards it gets real interesting....here's my metric for today...despite the upside pulse the bid is still south of my once mentioned downtrend line off of the ~$17.96 level of late March. It's a line the bid has had problems with. This line sits...right now...at just a bit north of $17.25. So.....get thru that on volume then the next test would be the ~.35 area since that line was also a resistance zone for several sessions in early November.....
For now not sure how "oomph" is left...the stoch's on the 20day chart are showing well overbought here.
Let's see how it plays...
I'll even put lipstick on it if'n Master lets Poochie out of the swamp.....uhmmm....the NORTH side of that swamp that is....however...warning...should that happen - errr...the NORTH not the lipstick - we'll have to watch out for the clan Knfcgs....I'm sure they'll be all a'giggle and trampling for the exits or set-ups given the earlier expressed wistfulness over his (her?) $17 Option position. ;-)
Stock: Errrr...not that I want to get into this but please tell me yer not seeking validation (of self) on a free chat thread? ANY of Yahoo's chat thread?
Listen..to the extent these (free) threads work they are not here as an excuse for ego stroking. It's all about tossing out your ideas, listening to/for replies as well as for heads ups on equities you may not be tracking. Errrrrrr......at least....this is my way of using the (free) threads. They can be fun. You can meet some great people.
As for the flamers (a term that early in the evolution of the Internet was defined as a person trying to conduct tactical character assassination, etc.), those negative types more interested in tear your personality down than providing cogent counterweights to consider against what you're saying....well....there's a phrase popular out here in Cyberspace that I think bears repeating.....don't...and I mean DON'T...NEVER, EVER, feed the trolls. Mere words can never harm. Because that's all the trolls have; WORDS. Only you give them power. So just simply ignore them on these (FREE) chat threads....nothing else can be done. Did I mention FREE?
Just some random thoughts. Meanwhile....MU did nicely today. All the talking heads are all a'giggle over "new high's new high's did we mention NEW HIGHS" in the market. I'd slap them silly if I could....
I'm rubbing my eyes to clear the bleer....on a 5 day 5 min chart....is that....is that a.....is that a reverse HnS setting up? The chug & churn team certainly appear to be grinding out a "right" shoulder....
But what do I know.....'tis just a WAG. Let's see what actually transpires.