Actually, I do not see any major resistance to the mid $50', thus I reentered near the open at $37.5, leaving some ($3 plus) on the table. Probably, a better reentry point would have been yesterday in the $36 or so area, but I screwed up on this one.
RDRT is moving extremely well on huge volume. Now it has to contend with the early January high of $6.75, but the volume now is so strong that I can see this hurdle being taken swiftly in the next few weeks. RDRT came with a string of news today, so we may get "selling on the news". Depending on the tape action, I may jump ship to reenter just under $6 or so. Right now, I am still aboard.
I got out of SNDK at $88.25 and SSTI at $29, but I hope to reenter both on minor retrenchment. Nothing wrong with these, except that they are in their "forecasted" areas of resistance of $88 and $30 respectively and I expect some backing and filling here.
Zeev
I just got off the Bu$$ at $91.25, it seems tired for the time being, and I feel that the failure to even go and test the $97 area may mean lower prices on the next NAZ retrenchment, and I do not think that retrenchment is too far. |
