XTRA Bitcoin Inc (CBTC): The stock needs to hold .0020. It lost i...

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Rhee

Re: FloatCleaver post# 16062

Monday, 07/28/2014 10:22:07 AM

Monday, July 28, 2014 10:22:07 AM

The stock needs to hold .0020. It lost its 38.2% fib. Statistically on pennies this entails a retest of its all-time lows, even if it bounces to retest the fib - as that will be sold. If it loses .0013, then .0007 is actually in play. At that level, there may or may not be some PR. Absent PR, the existing trend dictates.

Albeit, trade management dictates that immediate-term resistance should be sold, not support. Support provided a 20% bounce today even on the selloff for day traders or those doubling down to extricate themselves from this junk and instead chase that MYEC junk, or whatever the college kids on iHub do.

(A) Have very reasonable expectations; (B) Educate yourself and perform due diligence; (C) Don't enter without a strategic plan and target, for both best and worst case scenarios; and (D) Lead inward/outward and never follow.