Thursday, January 22, 2015 12:59:02 PM
The original post #2884 related that everyone seems to have their opinion about why stocks go down, but very few support their opinions with evidence.
No complaints by me,other than people trying to explain price movement without evidence. You blamed the retracement to $.70 on day traders and the 1%. What is your evidence? or is it just everyone knows that's how it happens?
I trade stocks on patterns. If say RNN runs up and then drops back from resistance levels. I will sell my shares and wait for the pattern to repeat. When the pattern is broken, a stock makes new highs and holds those gains, then I reevaluate my trading pattern.
What ever the reason for the pattern, it makes very little difference. People just seem to want to blame their favorite "boogieman" if the stock price decreases. I guess if it makes you feel better to blame something fine, but as long as the fundamentals stay positive, I tend to hold my shares, regardless of pps flucuations.
It's been nice talking with you. Good luck to all RNN longs.
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