Ken, yes, SORC has been a favorite of yours...as for the chart, it shows some people making good of a great trading range. I would wonder however, of the extreme overbought condition that it is in...check this one out...
66.59.141.65
Judging by the above chart, I'd say it has the potential for another roll. The volume did increase today over the past trading sessions. Hmmm, yup I would watch the short term stochastics for a downturn, see if it hit a day high again (6.35) and SHORT the thing hard. It's making a lot of resistance for itself. The teller will be the volume...that's what it will need if it's gonna pop over it's current highs.
As to what I would do.... if the stochastics start to turn tail...SHORT, SHORT, SHORT if not, watch for a volume signal and ride it up for the next level...whatever the choice, it's coming real soon.
BLTI...3.23 sure seems to be a hard spot for this thing...the stochs are still in an upswing, although, I am worried that for now, 3.50 is all she'll do.
PSSI went higher today, but I think it too will start to sell off a bit now...
George A. |
