GM, Milehigh:
The TA does look way ugly. Reminds me of Intel in early June, when it broke below long-term support at 70, and hit 65. I took a large position, and the stock promptly broke back above 70 and stayed there. The AMAT LEAPs I bought on 9/1/98 have already lost 1/4 of their value. No guts, no glory. If the stock doesn't get above 26, and stay there, in the next few days, then the breakdown is confirmed, and we'll almost certainly see the teens. And if that happens I'll triple my holdings of ZPJAH. If the stock hits 26 and stalls, then I'll sell my current position, take my losses (I have huge short-term gains this year overall), wait till support forms, and back up the truck.
GM: the NYT writer said you said nice things about me. Thanks for the ego boost, I need one at the moment. |
