Replies to post #8803 on Grapefruit USA Inc (GPFT)

[pkp544]

Kinlaw,

Where did you aquire you're chart knowledgs? I'm a fairly new investor and am looking to improve my skills.

Thanks,
PKP

[madtig6]

kinlaw-I don't want to get into a TA "pissing contest".....

..... but your Fib indicators are backwards.

100% retrace goes at the last low, not at the recent high.

http://stockcharts.com/h-sc/ui?s=IMGG&p=D&yr=0&mn=6&dy=15&id=p24122098652&a=188454423

[kinlaw]

Here is your definition of a Fibonacci Retracement Lines:

1. Fibonacci Retracements
Fibonacci retracements use horizontal lines to indicate areas of support or resistance. They are calculated by first locating the high and low of the chart. Then five lines are drawn: the first at 100% (the high on the chart), the second at 61.8%, the third at 50%, the fourth at 38.2%, and the last one at 0% (the low on the chart). After a significant price movement up or down, the new support and resistance levels are often at or near these lines. Take a look at the chart below, which illustrates some retracements:

Maybe I'm missing something here but this looks like I marked pretty close to the high and the low of the chart. Hell, My lines pretty much mach up with the lines from your chart.

Be it as it may, we will see the gap filled.

Sorry that my opinion pisses you off!

[dan1drew2]

Kinlaw - I can appreciate the time you take to do your own analysis. My opinion is a BB stock is easily manipulated by the MM's. They see much more than the average investor does. Example would be a stop loss. If you initiate a stop loss lets say 10 cents below the current trading price the MM can move the stock lower to grab you shares and bounce up at anytime to sell at a higher level. I'm not saying charts lie but when it comes to a BB security as opposed to a stock like IBM its easily manipulated to shake out the weak hands. I wish you luck and trade the way you feel is best. See ya.......