| | I-Mann,
I was just thinking what a perfect X-Mas gift that Bob-O-Matic...is that mail-order only? ggg
Actually, on the E-Bay...I just checked the Eichler-Files and found that the 60 min chart has a bullish flag pattern which could break to the upside perhaps testing first target of 62.75 (ma X-over) and then 64.75 (ma X-over)...stochastics in oversold support that idea. I'm also thinking that for reasons of negative daily and weekly chart...it would be best as a ST play only unless those charts can improve their appearance on the back of a ST rally...
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Daily chart pattern looks ugly:
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Stochastics headed down, uptrend broken back in late June, early July. Fib retraces are yet to be fully re-tested and price is now in a wedge/triangle price consolidation pattern. ADX D-,D+ threatening to cross down. Also, price trading below the 30ema I consider negative as well. Although that price consolidation of the last couple months appears as a falling wedge of sorts (bullish), the entire chart is suspect and should be played with caution and tight stops IMO.
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Weekly chart also negative with stochastics heading down and D- above D+ on the ADX. From a risk minded point of view, I think it is riskier to play a deteriorating chart from the long side as opposed to picking shorting opportunities and playing from the short side.
I think the very best kick-a$$ plays are when all the charts and indicators are all lining up together in agreement. Certainly, with ST chart indicating the possibility of upside potential, you could play this long and maybe make money...or, the daily could simply continue to deteriorate and fully test that 38% retrace, followed by the 50%, 62%, etc.
I've come to respect your logical calls and realize you might generally play something like this only very short term, so I suspect that it could rally, but looks risky enough to warrant extreme caution.
Best,
Eichler |
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