Hey! Nathanc;
I would never ever dream that kind of dream --day dream and night dream for that closing price of $10. for tomorrow.
I was IMO to begin with this WSP until today market showed me different signal that is what I said what I saw. Profit takers moved in and then they are very much so in competing with among themselves and that " I want to get off the bus ahead of everybody theory" looks a bit scary> Yeah!!!!!!!
You also convinced me to take a good look of that 1996 rally; in comparIson with THIS 1998 rally.
I only could tell you more bad news from the chart as follows:
in 1996 WSP rally from nearly .60 to 1st Q of 1997 to near that $4.00
for last few days, then decisively, WSP went into a powerful spike pattern DOWN here she went from that $4.00 to .43 recently.
In comparson these two rally, the 1998 rally just touched that spike out neckline of 1st Q of 1997; as usUsal, once it touched that neckline, market become so aware of that 1997 1Q spike out down turn; maybe why it had happened today, when WSP touched that $3.11 then suddenly lost that upward momentum in other words, it ran out of bullish steam, and then she went SOUTH.
aGAIN; IF YOU DID NOT LURK ME TO FURTHER STUDY THE 1996 rally, I did not even pay any attention to it.
In any event, this is 100% purely my technical analysis, whether it is right or wrong only market could tell, and that why I always follow that basic market watching principle: ONE DAY AT A TIME AND WATCH THAT TICKER AND NEWS RELEASE OF CUZ.
gOOD LUCK TO YOU BUDDY!!!!!
John Paquet |
