Why Kev, Kev, Kev...
We are both bullish on MRVC dear boy, it's just that I said it would top off short term in today's session. I mentioned 25 1/4 as the resistance, and shucks, was way off as it did 25 1/2. ;) Closed at 25 1/8, damn! Off an 1/8 again. Hate that. <gggg> Now, I'm wondering if we will see it push to that lovely 26 1/8 level tomorrow at the high, NAZ willing, or whether it will sell off without surpassing the mid 25s? Either way, I still think it is short term toppy here, and although I may be getting too greedy to buy back in the lower 20s with this tech rally we have going, I still think we can get in below the current levels before the next surge forward. If so, I'm buying some calls or maybe going long.
Candlesticks are so bullish, I can hardly stand the heat! Volume was very impressive today, but a lot of $$ was flowing into this sector anyway which would account for some of the action today. If it weren't for this really positive momentum that MRVC has going, I would be very confident saying it would sell off soon...but given this strong influx, you may be quite correct that it won't come toppling down too soon. Time will tell. The market dictates. Williams %R is completely overbought at 100, we'll need to see it hold these higher levels here to settle down a bit. DMI+ at ~36, DMI- at ~11, and the last time this pattern was observed (5/6/97), it was unable to exceed the previous day's high and sold off over the next few days. In fact, the DMI compared on 5/6 to today is like, "Wow...deja vu!"
So hey, what do you want to bet? :) You know I'm no gambler, but I will think of something! ;)
BTW, I picked up some RDRT calls today, saw Andrew's post a few minutes ago, yes...some good plays to be had there. Right after I bought, I was up 1/16 on the bid, we're talking big, Big, BIG profits already man! haha No reason why this won't do 25-26 over the next week or so, but if it pulls back toward 19-20ish and stabilizes again respecting that quasisupport level, I will pick up a few more calls just for kicks. Then, we can start a thread called, "Trading for Losses". I know no one here on Swaps would have any contributions to that one, huh? ;) NOT!! How can I say that?
***********I'M CLAIRVOYANT. PROVE OTHERWISE***********
Sorry all, been waiting to use that for months. Tee hee.
Well, off to harass Jeff Mitchell now...gotta go find him, I know he's online...Jeffers? Where are you? Come in Jeffers!
Night All,
(Nytol? I should market a cold remedy that helps insomniacs like me sleep?? Naw, never mind...)
"Kindest Personal Regards"
Rachel Goldbergsteinowitzsky***
***(Don't ask me Kev, ask Jeffers...tee hee) |
