AOL is like Russian roulette, more or less, you have got to know your stake before starting. To me TA and FA are all useless here. See, those breakout things are all aftermath kind of things. We look at the same cahrt, but your breakout could be my resistance. Yesterday's 47 was a good resistance to me as a close price. I looked at the trading pattern, and understood that the shorts were being fooled again to take covers, much like the longs were still buying in at 70. All told, however, a run-up is necessary to create enough critical mass for the next move. She has already run 100% up in a short period, how much greedier can one be? We have already got something out of nothing, haven't we?
At this juncture, I see it sweeping through 45, 40 and 35 before next week's option expiration. The upside has already happened at 48 today. The magic $44 intrady high set months back mentioned in some posting is irrelevant to me and should not be considered a breakout bench mark. From option trading pattern, 35 or 40 at expiration is more likely, although 30-35 is not impossible.
Watch out, the lady is rocking. |
