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Workingcapital

12/13/10 10:26 PM

#202730 RE: TinyPineTree #202724

Wow. You keep talking about a retrace. Why not sit back and enjoy it? ;)
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12/14/10 2:20 PM

#202759 RE: TinyPineTree #202724

tinypinetree, more or less
it technically looks to me like continuation with support at the 2.95-3.03 range, and then not really again until 2.60ish ... the support at 3 looks very big (10 and 200 SMA, long term trends, pshycological 3, recent candles). Yesterday's close looked like a call for consolidating back towards the support at 3. I don't see anything technically that changes that. The end of the year adds a little weirdness. The volume today certainly is consistant with every opportunity for a fall back to the Maginot at 3. Continuation right now does however mean incrementally moving up, but it would take little to relax it back to 3.

Having said that, ... it will likely do something like bust through 3.35 on small volume to substantiate the airbrain I am and the pseudo-utility of technical forcasting.

The EMAs were recently pointed at here, and I've looked at EMAs a lot and essentially have decided I prefer SMAs, whcih I expect/hope to "line up" in the next 2 or three weeks as 200 continues to retreat and 20 and 50 continue to climb.

RSI, MFI, and BB all indicate well-bought at 3.20, but nothing crazy, but again, all would be perfectly happy with churning towards 3.