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Saturday, March 23, 2013 7:00:26 AM
Me myself that breach of support was joy to me, as I was hoping for it. I was going to make a post with this chart yesterday but couldn't find it. I sold over half earlier this week at .0069 and though if we hit a few ticks below support that .0055-.0057 was in the lines. So after seeing yesterday I had my order in at the top of that range.0057 and it filled :). Let's hope we get some news soon, or stagnation may be the game for a week or so.
Anyway the chart I was talking about was just a 6month with BB's and the 50dma. And I remember clearly last time we were seeing selling for weeks and I think about 4+ days straight of 13% plus losses was from the mid of jan till the end. I had ended up moving a bunch of $$ throughout the sector cause I was thinking what's up with this guy. at that point we were dipping below the 50dma after the roughly 5x gain from late december. it was looking like the same thing needed to happen before we could get going again, well chart wise that is. The chart is about 10days old as of today.
Though in the lower .005 region we may go, I think us getting to that range and not selling off more was good. We even closed higher than MJ*A, bet that new tax on marijuana-companies in Washington weighed on them quite hard.
Best of luck though bro, as you already know. Trade first, invest later. lol
Were you able to catch that wild one at all?
Take care
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