Good for you Bio...
crazy day of plunging today. it would take skilled trading to catch the right moments...if you got the best deals, at the 5.60 step that was really well done. I know I would have been tempted to buy at the 5.77 plunge...but see how it played out today...the bounce there, Failed around 5.90...I need to look at it again, you look at the precise points where it failed, be sharp in the math now, and see where that resistance Failed. it can Fail there again in the next bounce. It can fail there at 5.87 then try to plunge down ,with 5.37 as a technical target, lets say first 5.57 then 5.37, but if the trading systems calculate something else to play with, they could hold the plunge at support around 5.65 area/5.70, crafting a support shoulder pattern (reverse head and shoulders) and suddenly the powers could start a buying surge that shoots AVXL right back to 6 dollars-6.10 and on to blue skies 6.30 , and then they could Slam it down again from there. when the time comes for the next set of trading games,...in this Box.
I'm describing a few of the technical track patterns that are setting up now after today's movement. and the moments where the track pattern could be Switched...what starts going down, could make a switch and surge up, or visa versa, that's the tricky part, IF the powers decide to pull that Switch. So its not automatic that IF we see a bounce now back to 5.85 FAIL there, its not automatic that it will fortell a target hit at 5.35...that's a track on the playing field. it just needs to be watched, to see if they pull a changing Switch at a key spot, like 5.65/5.70....so these kind of mid stream switches, are what becomes tricky when the time comes. we could see a lot of that in the rest of the week and next week as well. These are the tricky games the powers will play. For several days the technical price action lulls us to sleep with nothing happening, and then they do this crazy volatile action that catches folks off guard. Last week, the technical action was suggesting that the 5.87 target was an ok spot to buy some, remember, ? but its also why I say, only buy in small portions, because of days like today. even here at the 5.60 target I didn't buy a ton. I bought about 500 shares. I'll buy 500 more if it falls to 5.37 area. I might buy 700 or 800 if it falls back to test 5 dollar target zone.
AND,I will sell some trading shares at the 7 dollar target zone. when the time comes.
I don't sell my core shares at all.
so anyway, here we are now at 5.60. now I watch the overhead resistance around 5.85/5.90 area, to see what the powers plan to do there.
The troublesome trick to buying the dips today was to have self control, and buy a little at 5.80 target, then more at 5.70 and more at 5.60... I slept thru the first 2 and woke up to buy the 5.60, so I got lucky.
Here is where you could have a chance to change your investing plan a little , if it seems sensible....AVXL really should be an investment that also has a trading account, 2 accounts, one a core that you hold for the long run, and the other as a trading account, where you buy and sell those shares. I decided to do that a few years ago. These shares I bought today are trading shares that I will be happy to sell at 7 and 8 dollars when the time comes. IF I had bought some shares too soon at 5.85, I'd sell those portions at 6 dollars and get my trading money back. so that I can use it to buy at 5.50 instead. its just useful money management along the way.
but in any case, this plunge today demonstrated why its always better to buy and sell in small portions at a time. it works out better that way.
