lowtrade

[lowtrade]

Not sure where you stand. If your wanting continuation back to the $4's + to break even or not. But after my last 2 posts explaining the norm's for island reversals, I forgot 1 thing.

My main rule of thumb, on island reversals, volume in / volume out. Where you want to see the same volume into the fall, in the comeback breakout. This one didn't quite make it. If I was a betting man. I'd bet there will be a channel, but it will break south. Because there wasn't enough volume out, to match the volume in.

Something to think about if your looking for an acceptable loss figure. Instead of a get even or make profit, after holding so long. This may not be the get even move yet into the $4's. Retail volume support was a little weak.