Replies to post #560 on Food Innovation

[gfp927z]

Yes, RIBT looking good. It went right through 1.00 and the 50 MA without a problem. Also closed right at the high of the day, and then moved up to 1.15 in the aftermarket :o) And volume is decent, and no sign yet of a high volume blow off day that might mean a near term top.

I see what you mean about the gap from mid-Oct, which also corresponds to the 100 MA and also the Oct-Nov trading range. So that looks like the obvious target to watch -- 1.25-1.50 area. Then with some news flow, it might conceivably make a run up to 2 . Looks like momentum is building :o)

Fwiw I decided to re-enter the market modestly. Only a 2% stock allocation so far, but plan to gradually add via dollar cost average into the S+P 500 with 1 share of SPY per day. Nothing dramatic, but I figure by Summer/Fall the bear market could be winding down, so might as well have some exposure to stocks again. I figure maybe a 15% stock allocation by Summer, enough to participate, but not enough to require daily Tagamet :o)




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[gfp927z]

RIBT re-testing the 1.00 and 50 MA support level, so far so good. Volume on the pullback is pretty light, so a good sign. Could use some news flow to help get another up leg moving. As you said, the next target should be the 100 MA (1.39), and the broader 1.25-1.50 area.



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