Grim - here is some info regarding you 25 1/8 rule.
First, I want to say that you and I just don't see eye to eye, in
addition to me being an old man of 56 with 30+ years in the
market. You use to flame us, but by golly, as you are gaining
EXPERIENCE, maybe someone with 30 years experience knows
some things that you haven't learned yet. I have avoided the
even numbers for some time because of support or resistance at
those points. Today, I decided to make a few notes for factual
data to support above. The following data is taken from the
"Time and Sale" of MU as trades occurred. As the trades
consumed all the stock at the bid price, starting at 25 3/8,
then fell to the next bid level, the volumes were as follows:
Bid 10,000 shares at 25 7/16, when consumed, fell to
Bid 22.700 at 25 1/4, then fell to
None bid at 25 3/16,
Bid 5500 at 25 1/8, then, get ready, fell to
Bid 10,000, expanding to 50,000 at 25 1/16, then....
BOOM!
Bid 150,000, expanding to 200,000 at 25.
Anyone not see the support at 25?
So... supporting your idea of going long at 25 1/8, for those
that want to go long, is much safer than trying at 25.
As I watch on my PCQuote6 on the other computer, the
volume on the bid is eating away, and now there is
100,000 ask at 25 1/16.
I think this stock could dive before the close, assuming
it eats through the remaining 157,000 left at the bid.
Over and Out.
Patrick
Whoa! Now 200,000 ask at 25 1/16! Only 60,000 bid at 25. |
