Wednesday, August 25, 2010 12:06:48 PM
No excuses. ;)
You da man! (that better? ;)
You know I am not a trader, so pull backs don't matter. I'm after the longterm recovery.
The breakout question was sincere. I don't draw lines of support across a chart - So, just seeing RFMD move above the 4.80 on high volume looked 'breakoutish' to me. RFMD moved above a pattern that was showing lower highs and lower lows and is moving in a new one that is showing higher highs and higher lows. A shift of trend. One that might hold - one that might not because of the crappy market not the fundamentals of this stock.
Breaking out? That's not my forte. (gaps, bollies, corrections, Ma's, crosses - those are my things...breakouts, unless breaking above a 52 week high or a sideways consolidation - not so much. This middle of the chart move begs the question - is it a signal -is it a fluke.)
So - question of the day, IYO, would yesterdays move be considered a breakout or just a kick ass move and why?
You da man! (that better? ;)
You know I am not a trader, so pull backs don't matter. I'm after the longterm recovery.
The breakout question was sincere. I don't draw lines of support across a chart - So, just seeing RFMD move above the 4.80 on high volume looked 'breakoutish' to me. RFMD moved above a pattern that was showing lower highs and lower lows and is moving in a new one that is showing higher highs and higher lows. A shift of trend. One that might hold - one that might not because of the crappy market not the fundamentals of this stock.
Breaking out? That's not my forte. (gaps, bollies, corrections, Ma's, crosses - those are my things...breakouts, unless breaking above a 52 week high or a sideways consolidation - not so much. This middle of the chart move begs the question - is it a signal -is it a fluke.)
So - question of the day, IYO, would yesterdays move be considered a breakout or just a kick ass move and why?
A mind troubled by doubt cannot focus on the course to victory.
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