>> I was long BAY befor the gap up and sold at $27 3/4 with the intention of buying back in at $25. Never did buy back in
though, playing something else.<<
At least your plan was correct. You would have made some $$ buying
back at $25. Is this always your pattern after a big gap up?
I noticed after COMS made a HUGE one-day gap up, that you,
Steve, John R. and probably some others were already talking
about buying back under $30, though it seemed like COMS
could have gone further with the heavier volume. I guess, it
was trying to break 32, and if it did, it would have gone
to 35, but if it didn't break 32, it would go down below 30.
I figured it would just stay between 30-32 for a while...
>>It identifies price areas where there will be increased demand to slow any downward momentum. The slowdown in downward
momentum feeds on itself.<<
Remember, before the earnings report, we all thought the big
resistance point was at 30. Well, we blew by that point
overnight. Maybe a case can be made where the lower support
level is at 30 rather than 27 1/2. This would be true if
the last few days were 'holiday sluggishness'. I guess
we should be able to tell in the next few days. |
