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Strategies & Market Trends : Ride the Tiger with CD
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To: robnhood who wrote (181174)12/7/2009 7:03:38 PM
From: TheSlowLane5 Recommendations  Read Replies (3) of 312244
 
DMM.to...the stock ran from 3.83 to 6.38 in the first three weeks of November, on strong volume. Since hitting that high, the stock has retraced almost exactly 50% of the upleg, on low volume. A 61.8% retrace would take it to 4.80. 50-61.8% retraces are very typical of these junior mining stocks. The stock is not yet oversold on an RSI basis but it may not get all the way there. Other indicators like Williams and slow stochastics have entered the buy zone, imo. Was thinking about re-entering today but figured it might have a little bit more work to do on the downside. Just a hair away from the 50 EMA which may prove to be support. We will know soon enough, but it was starting to activate my salivary glands. Ain't it strange how two people can look at the same thing and see two completely different things. I guess it is the difference between looking at it from the inside vs. the outside.

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