Did I mention a Doji or an inverted hammer on today's candle. Generally, indicates a potential change in trend if has follow though on the downside in the next day or 2. Also, CS still maintains it's %4 target calling for 37.5% downside.
I did not say PBR will go bankrupt or is going to zero. My point is the stock will take a breather at this important level and give back some gains. If it breaks today's lows tomorrow then 7.5 (23% retracement) is def. in the cards. But, my downside target is about 7 (38% retracement) or 6.65 (50% retracement)
Short sellers have been right from $55 to $5 and 3$ from the lows you think the long term trend has changed? Go and check my Long and Short calls on PBR in the past. As far as momentum goes... it is great as long as it lasts....
of less than 7 means global growth is in peril and all commodities including crude will be hit. PBR had a massive run of almost 70% from the lows... It will have to retrace 38% to 50% a the minimum. Also, EIA report tomorrow, could be bearish for oil.
A run to 7.60-8 is possible tomorrow. After that it will move down by at least 10%. Going long 7.50 puts to make some quick $$$$$
It is way over done here and today is setting up to be an inside day. Expect a outside reversal day from these oversold conditions. Initial price target is $9
$PG Went short via Aprils 87.5 puts today. Bumping up against 14 year trend line that market the previous PG tops and broader market tops. I don't see a break out on the first try... Should at least test $85-$87 first.
The shorts have to cover to close their position. They were right and you were wrong. Just admit it and move on...
Just got back from my vacation last Friday. hence, i missed to participate in the X bounce that I was expecting...
I rest my case the earnings got it above $40 like I posted... if we go by EW count and if my count is correct we would be Wave-iii of primary Wave-3 and the nastiest of all declines. This should take X well below the Oct. lows and close the Gap and prob. even lower.
I shorted AA on Friday @ 16.75 and yesterday morning covered @ 16.67 as it was holding strong when the broader market was down and was convinced that I'll get a better entry point. Once it broke $17, I was waiting for it to get back under $17 and it did... Also, today's investors meeting was just another sell the news. Why did I cover... cuz markets have an upward bias on Mid-term election day and the day after... that's why? I could easily claim that I went long @ 16.45 and got out at 16.6 or vice-versa, but I'm not... All commodities and the whole market is about to taken to the wood shed... I'm just playing the day-trades/short term trades until the real BEAR unfolds...
It hasn't quite gotten back in to to the channel. A lot of today's move is in anticipation of the investor meeting tomorrow. Unless, the management comes up with some news that is not priced in... it will be a sell the news type event. Also, notice the lower volume on the upside move in the last 2 days... My stop is around $17.40 or so.
The auto numbers will decline going forward and AA will fall hard along with it. Looks at all other commodities being taken tot he woodshed, you think that only Aluminium is immune to it? The first step is to the fill the open gaps
Direction Date range
up Oct-21-2014 15.71 to 15.83
up Oct-17-2014 14.65 to 14.82
PBR did not quite hit the target yet.. Will eventually get to $10 and might go lower. Typically PBR falls another 10%-15% after breaking a prior low. If that were to happen then $8.5-$9 would be the next real tradable bottom.