Thanks for the comments, yours and the others (like Patrick's whose remarks I've often seen elsewhere among the internuts) who replied to your post. Bollinger bands are no good on their own, that is true- in my non-expert understanding, they are best interpreted as a confirming indicator. Indeed, other indicators are negative- also true. So why the Heck didn't I sell today? Remember, I think this POS is way overvalued on the fundies (as are all its peers)- this is merely a trading thing for me and I'll short the crap out of it when I think it's time (although the past few days my efforts to get a borrow at Schwab have been for naught). But here's why I'm ignoring things like stochastics, MACD, etc. (none of which I pretend to have a great understanding of): EGGS is hanging in there compared to UBID, COOL, MALL, EBAY, etc. For example, today EGGS closed down 2.4%, which is actually ok when compared to the following: UBID (down 6.7%), COOL (down 6.9%), MALL (down 2.4%),. EBAY (up 1.5%, but it's had a nice correction lately)....
Anyway, I think it can go either way at this point, both are reasonable short term choices. The reason I'm betting on up is because of the dry trading volume, positive sector sentiment, and the relative strength vis-a-vis its peers. And heck, it's about time they released a press release, wouldn't ya say? ;-)
I'm grateful for any further comments on where you or others see this going short term. In contrast to many, I'm usually looking to be talked out of a position. What's the point of posting if it's not to have your views challenged? (NB- that was actually a rhetorical question cuz I know there's folks like Tokyo Twit who like to sell into the hype they create). I'm just trying to make money either way by guessing the future....
Good trading to ya!
Anaxagoras |
