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Technology Stocks : AUTOHOME, Inc
ATHM 25.05+2.9%3:59 PM EST
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To: Ceebs Hartmann who wrote (628)11/14/1997 10:17:00 PM
From: ahhaha  Read Replies (1) of 29970
 
You mean support. Resistance refers to upside supply zones. It is interesting that the market intraday bottomed at 18 1/4. I suggest staying away from 1/8 and 7/8 fraction limits on buy or sell respectively. It is likely you'll get another shot. On the way down small orders controlled price (supply at the margin) while blocks were market order to buy. Now that has reversed. The big boys are worried and are dumping---always a sign of an impending give-up phase when you should be buying, if you have long term conviction. Also, short covering at the open tips you that a nearby bottom is approaching. You must be patient and buy when it looks BAD. If after you've bought you feel sick, that's the first indication that you're right. The next challenge is to resist the urge to sell as it rises. If you're a trader, you sell when you start feeling good again.
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