Thursday, August 28, 2008 4:08:51 PM
IMO, we will most likely see a fairly significant pullback. We're still WAY outside of the upper BB, and above the 50d SMA.
Our best bet to save PPS and conserve the ability to continue upward is to level off into a trough for awhile... and hopefully keep enough buyers in the picture to push it up after the indicators level out some.
The undeniable truth is that we've been in a strong downtrend for about 4 months now... and that's after a rally AFTER the stock lost 90% of it's value just a month before. To have a successful reversal, things need to equal out and level off. Anything sudden is going to be smacked right down because of the strong downtrend.
What we need to do is conserve our upwards momentum for awhile... maybe a week or two... let some of the "overboughtedness" of the stock die off.. and then continue from there. Something EXACTLY like AAPL has been doing... if GLCC did this it would be perfect IMO:
Clavis vitae est scientia temperata sapientia.
Clavis vitae est scientia temperata sapientia.
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