Lets go back to December. less than 30 Cents. Runs just a we tad to 1.5. Over bought right? Corrects to 80 cents. Still over bought right? Slowly upticks day by day into the 90 cent range. Still over bought right?
Still waiting to "fill the gap" right. This is TA , Technical Analysis,at it's best.
Go back to December to read my post about the Big Picture. TA is history, useful, and yes it does indicate overhead supply. Any school kid can do this by watching daily highs, lows, and volume.
So, as history fans waited to "fill the gap" huge news broke in March. By memory stock wa sless than 1$. Opened up a small bit. 15 minutes to 20 minutes it was still only 1.06$
I remember that price like yesterday. Then ran, up huge into the 3$ range very quickly.
Same game was played again. Waiting for the gap to fill. Better off shopping at the Gap.
Shorts slam it in one day to 2$
Not good enough, waiting for the gap to fill.
Then the huge news breaks about the C-19 results. Stock soars towards 4$
Another short raid to the mid 2$ low. Waiting for the gap?
Then of course the run to 10, the short slam it to below 5$, bounces back to 8, falls back the next week to the 4$ range and again; wait for it, wait, drum roll; Fill the Gap.
Meanwhile back at the ranch my group has bought steady up to 3.2$ and we wait for our Big Picture. More into 5 and 6$
Do readers see the problem about TA , Technical methods? It cooked up in the early 1910ish era as a way to make the broker big bucks. Brokers don't like my Big Picture. There are no trades. No snapping commissions. Such a pity.
TA also does not know what it does not know. TA only know the price and volume history. No glib Tech slick words can change that fact. My fundamental method surpassed any chart dude by 20 fold in the 1970s to early 80s. I knew the chart dudes. Sad fellows.
I respectfully rest my case.
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