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Possible downside (technical)

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Rocketstocks Member Level  Wednesday, 01/02/08 11:29:48 PM
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Possible downside (technical)

Theres a gap open @ .0022, so that would be the ultimate low with this momo IMO. However, if we were to move under .003, i'll bet the MM's spread the Bid/Ask out and make it impossible to accumulate SIZE there... Seen it too many times.

My gut tells me the technicals and fundamentals are both strong enough (backed by REAL $$$) that we would close back over the 5MA, which is going to be about .003 tomorrow.

The risk/reward... If we were to see a quick fill of that .0022 gap, that would equate to a downside of .0019. While this might seem like a large drop (percentage wise). How much do you think could be ACCUMULATED there and for HOW LONG?... Is it worth selling SIZE in the .003-.004's tomorrow and TRY and buy them back in the .002's?...

If you missed your sell opportunity at the highs today, IMO its best to hold and/or buy more on a dip. To sell here and expect to gain SIZE under .003 isn't worth it, unless you've seen enough gain on your money and just want to move on. Then YOU DID GOOD and i wish you the best of luck.

The majority of people trying to execute a strong trade from here would most likely wind up buying back in the .003's AT BEST IMO.

Is it worth trying to gain .001 on your money, when this could jump FAST back to the MAJOR PIVOT @ .007? You saw how FAST we got to .007 today.... This momo is fierce already and i view Eric as being frustrated that his stock has been trading at these levels. He plans to aggressively vault it over .01 IMO and there is no better TYPE news to attempt this with than RETAIL SALES NEWS for HIGH MARGIN CONSUMABLE PRODUCTS. I can't stress this enough!... Also, since this is a GROWTH PLAY, which is less risky than "start up" plays, more investors/traders will HOLD allowing it to sustain higher levels.

These are just my thoughts and opinion though. I could be wrong.


My posting contains many opinions. So please do your own research and validation.



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