Sorry, I haven't been able to figure out how to trick the free 10 way charts to show BBs.... I've been trying too, but they went to a pay site before I could figure it out and record the URL.
Perhaps take a collection and buy me a subscription? :)
I do think we are in a trading range and the breakout will surprise us all... and I have money ready to buy should we break out on the low side as that would be a huge opportunity in my opinion.
I've looked at one stock, LRCX, and found it has done a 50% retrace of its run from the Sept lows (if you toss out the weird trade that nobody could have bought). We might get a full 62% retrace and that is where I have my net, but with the economy turning, I put the odds at 60% that we already saw the trading lows under $22 and the gap on this chart is an easy target to fill
stockcharts.com[h,a]dhclyymy[d20010601,20021231][pc20,50!d20,2!f][pc20!c50!i!d20,2!b100!b200!f][vc60][iut!Uo14!La12,26,9!Lh14,3!Lc20]
My last profit taking in LRCX was $29 and $30 so I might have missed my chance by being too bearish short term ... but we shall see. I am adjusting my way of calculating 50 and 62% retrace levels and these would have cought the $22.50 buy for the shares I sold at $29...
maybe next time?
Kirk |
