Glen,
Your TA has been welcome on the thread (every thread should have one!!). In addition, your methods seem quite restrained compared to some TA devotees I have come across, so I can tell that you recognize the limitations. Your comments are particularly welcome when the stock is moving rapidly (up or down) which always results in a discussion of buy/sell strategies, panic/euphoria, etc.
There has been great volume the last couple of days. If we look back to the conference that Thomas attended earlier this year (was it Piper, don't recall; or was it just a personal road show?), there was also a buying frenzy immediately after that, I think it took us up to about 7 for the first time. Ultimately the excitement wore off of the big buyers, volume dropped substantially, and we went into a flat pattern, and ultimately gave quite a bit back. We could easily go through the same thing again soon, IMHO. What is the best TA indicator of if and/or when such a slackening in buyer interest is starting?
Finally, as a group should excuse ourselves for occasional euphoria when the stock is on a tear. Many of us have been in ABTX a while (esp. Archie I think), and we like to pat ourselves on the back about our wonderful stock picking abilities. For myself, I am just grateful that I have something to offset losses in the techs (e.g., CYMI, PAIR, MTZ . . . )!!
Thanks,
Jim L. |
