Ed,<<< Gone fishing rainbow trouts, good eating fish and good sources of omega-3s.
Ed, I need some time to "discerned eyes" that LAB. However, looks at the PLM chart. Doesn't LAB JV with PLM ?????
PLM entered retracement mode, as news is out, and that "AS GOOD AS YOU GETS" feeling, market profit takings. On Wednesday PLM flattened out, although closed at hi, on Thursday, PLM did not break new hi, and then retacement mode set in on Friday, it closed at the low, also noted that PLM had two days open candle sticks [both on Wednesday and Thursday] but Friday showed entire different candle stick pattern, these all indicate that PLM entered retracement mode.
PLM rallied from .50 to $1.09 gains .59 [let say .60 for easy calculation]
1/3 retracement .60/3=.20 @.89
50% retracement .60/2=.30 @.80 [round off]
2/3 retracement .60/3X2=.40 @69
My judgement is that PLM could retrace to that 50% retracement area @.80 where is the five-month breakout neckline, that neckline will become very supported. Note that moj of this breakout is computed as follows:
with of the argument length =.80-.50 =.30
add on from the neckline =moj= .80+.30 =1.10
YAHOOO!!! PLM exactly reached that moj @1.09-1.10 [due to computation round off etc.] and then started its retracement.
ED, If LAB JVs with PLM, I definitely would like to wait and see attitude until clear pictures [of LAB anD PLM] shown, because of PLM's likely retracement you see.
Regards
John...
P.S. Not any methods of forecast in the stock market is infallible, I might be wrong. |
