Xia,
Did you play HHHH today? I completely forgot about it and a moment ago checked its price after close today.
Hi - 8 3/8
Low - 5 5/8
Closed - 6
Open - 7 3/4
I then revisited what I wrote to you the other day, and it reaffirms my personal belief that "it's the close that counts" when it comes to reading charts.
Here was what I wrote this weekend:
"Near term its immediate resistence is $7. Need to close above $7. If it can do that, the next resistence (for the next three sessions) will be $8 1/4 (this being the trajectory line of higher high going back recent history). But if people really buy into its internut connection and make it an internut play, 4H may be $40 in 4 sessions!" - I think it did a bit of everything mentioned today.
H - sold PRMS today at 1/16 profit. Took whatever I could on this one. Also sold TJX at a small profit. Missed GIFI today, again. Oh well, but it is going to $4-5 so there is still room to short.
SEV - took a big bite today but held $8 support for now. If there is no news out in the next day or two, $8 may be unsupportable.
Drillers - need I say more? Laughing all the way to the bank.
MO - got hit today but if its option premium continues to stay low, I would continue to buy far out calls.
AVEI - what did I miss?? Oh well.
If today's tumble sets a consolidation motion going, it will need to be confirmed tomorrow and the day after. Another 200 pt drop tomorrow would set the tone going into Christmas. Otherwise, buy-on-the-dippers will come back and do this all over again. |
