I thought that .51 was wrong yesterday and .4495 was right. I think .4495 should have been used for that first level of support because it was the 382.
Today, the 618, which is .3857, is what is to be watched, not .37.
Just like .51 was wrong yesterday. .37 is wrong today. Use the 618 instead and you will have a better picture of what is happening. BTW, they took it to .391 so far today.
IMHO, the support level the takedown today was aimed at was the 618, which is not .37
I think waiting for .37 will result in missing the buy. As a matter of fact, the only real historical data that is relevant is a three day volume event that ended on July 13, 2012. Those three days, there were enough data point (volume) to use the HOD that day to extrapolate the actual current support that is below the present trading level. That HOD from back in July sets support at .305
Now admittedly, .37 is a lot nearer to .the 618 today than .51 was to the 382 yesterday, so they may tag .37, but if you has used the .51 and .37 supports yesterday, you would have missed the buy yesterday, and some folks did not make this mistake yesterday (and likewise, have no intention of making a similar mistake today).
I thought and I said that the buy was when they took it to the .442 low near the open. A buy at .45, for exampple, would have allowed you to get a gain of 8.88% by having timed this thing using the right support levels.
Had you used .4495 instead of ,51 ysterday, you could have bought at .45 and sold at .49 for an 8.888% profit.
I think the same will hold true today.
JMHO, but I have traded this thing that way because I put my money where my mouth is.
Imperial Whazoo
"Just my opinions, folks. Do your own due diligence & make your own decisions. DO NOT... I repeat... DO NOT make any investment decisions on my comments. They are my opinions. That's all they are... OPINIONS."
