Do you currently have a technical opinion on SFE?
Still very constructive with targets into the high 100s. If you have the capabilities, look at a monthly chart and the recent breakout. The monthly is targeting into the 200s.
As for my stops, they were obviously too tight. I didn't sell a single share, in fact, added more once Tuesday's (4/20) low held above Monday's (4/19) low. We have seen this Internet sector volatility before and should have learned not to bail out in mindless, panic, amateurish selling by institutions.
The Point & Figure Bullish Support line is supporting SFE in the high 40s, currently at 48, and this makes a more reasonable fail-safe level. In fact, from the Wave 2 low at about 25 in December, 1998, the entire move to 120 was retraced by an almost perfect fibonacci 62% at 61. The Monday low was 62.625. Close enough.
One thing about Technical Analysis, it's always perfect in retrospect.
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