Fulvio:
*** Congratulations to the Bull Camp ***
Hot and Heavy day for KRY! I noticed it was too hot for the
TSE officials, who requested info and got the "No Explanation"
routine.
Ok. I'm a converted bull now. The bear in me has gone into
hibernation. KRY knifed right through my downtrend line. Sure
am glad I covered when I did.
We're almost at the close on Friday and it looks like we'll be
finishing around $7.35 at the moment. (Oops, we just spiked to $7.60.
Hmmm ... late day short covering?) Anyway, what have you decided?
Did you go short, go long or do nothing? What does your TA say for
next week's activity?
I would bet it was short covering (margin calls?). Given the
run-up of late I'm not about to go long just yet. Don't take
that as bearish sentiment...it's just that these days traders tend
to fade break-outs by trading against them. I'm comforatble to
let her settle back down before buying in. If KRY goes higher, like
to $10 or something, it wouldn't be the first boat I've missed, nor
the biggest (DFR is still a very painful memory).
Anyway, I'll feel better about going long once KRY has established
an uptrendline, and to do that she has to come back down and bottom
out. My guess is that it'll be around $6.25 to $6.50, but that's
just a wild guess. Keep in mind that I'm no better at predicting
price moves than Joe Average. IMHO reacting to what actually happens
in the market is what separates the money makers from the amateurs.
For all I know, KRY could keep right on chugging northward, but she
has to churn quite a bit more between $7.50 and $8.
Once again...hats off the bulls today!
WN |
