Sun: you definitely got it right on today, good work! I agree with your analysis of the price movement during the selloff day; it seems that the drop below the 50 day average at about 27 was just part of the mania
with the Nasdaq/Nets diving, and not consistent with recent movement of this stock. Anyway, I played the 27 to 33 range today, as this is btw 50 and 13 day averages, and a sane range to work with when the market is going berserk.
For tomorrow, I'm watching the overhead resistance at 33, if it breaks thru early, we could go to your 40's target quickly; have to see what the market in general looks like in the AM, but I can still make good money on SIEB with these ranges, and will hold if it blasts thru the overhead, for more points.
Liked the gag and, you will be pleased to hear that the market markers got there behinds handed to them in the whipsaw action Monday; lost a lot of bread, hehehehehe.
Regards,
James |
