Jim, I respect and agree with your decision to lock in profits. They say there is never anything wrong with that!
And I, too, took some of the profit off of the table; I would like to buy more again about 1/2 point lower than what I sold (6 1/4) BUT, I don't expect it to get there - I don't know how you're interpreting your charts, but my intraday charts (which give me continuous real-time charting from as far back as a company traded) show that (on the 1 minute, 5 minute and 15 minute showing the two days of trading on HITS (hourly, daily, weekly cannot be interpreted as there is no history) indicate just the opposite of what you say. Every indicator I watch - Stockastic, Williams %R, RSI, Bollinger bands, Regression channel, MACD, and more show me a continuation of the uptrend. Well out of the overbought extreme range, RSI and MACD flat and right at their mid lines, looks to me like a solid basing and consolidation at the 6 and 6+ range. The early profits have been taken, and we have a lot of accumulation right here. I am certainly no expert at the charts and TA, and would like very much for you to explain your interpretation; I'm always willing to hear other opinions and LEARN!
Thanks,
dbl |
