I had two GTC as I recommended on Steve's Channeling thread, the low one at $49 did not go through. I was out all morning, but had this one in since I sold few weeks back in anticipation of the current "tech wreck". Unfortunately, I missed the low by more than a buck or so (VBG). Looking at todays' chart, the way it bounced back, it probably is not doing to go under $52 on a retest, I'll decide in the next few days whether to wait for a deeper retrenchment or buy in the $52 to $53 area. It seems that whatever the FED's will decide today (.25% or .5% ) the market may find it an excuse for retesting the NAZ lows of yesterday, and until that happen, and few other analysts voice their opinion, I'll leave in the GTC at $49. This is just above the prior "all time high" , prior to the recent rally above $64, and thus should serve as an excellent support area. If it is breached, the story may be changing.
Zeev |
