Two good posts from "Busytrader2002" over at Yahoo, who has been making some fine technical calls the last several weeks....
---------
This is the first time I am calling a technical BREAKOUT 12 Jan 11 ~12:15 EST busytrader2002
Breakout. Recent resistance was at $18.10 from Nov.23rd and we broke that on volume. We need to end the day on more than 1.4 million and we now have 1.1 million, seems a cinch.
Next resistance point is $18.95 from Nov. 15th. We need to break that number on more than 1.4 million shares also. It can pull back of course, but the barrier is broken so the trend has officially turned up. New 52 week highs are not too far off.
Just to add, "if" we break $18.95 today and close above it, all I could say would be "WOW!! Not saying it will happen, but just saying that would be a technical rocket launch.
Re: Sellers are $uckers! 12 Jan 11 ~12:30 EST busytrader2002
Just wanna say this, you traders out there should just unplug the key board or don't open up your brokerage account. Trying to trade a technical breakout after a lengthy consolidation period is foolish. You will lose money. Just relax and stay long.
>~~holding for sell 19s~~
That would be foolish. If and when it breaks $18.95 it will gain more strength. Once it breaks 52 week high, more buyers will come as that will be another technical buy signal. The tape today is very bullish. Shorts must cover, longs are getting buy signals and we are in-sync with the market for a change. The cards are finally aligning.
AI
