I'm out at 1.66--bought at .80-nice to take profits
but hoping I didn't sell to early- will wait and see-might be a pullback coming!!!!!!
From the stocks that I watch, there's almost always a pullback. The unknown is timing and degree.
A good rough estimate, I think, is reversion to the mean, a 50% pullback. It's not always on the money, but it quite often gets very near, above or below, that figure.
If we use the low of 3/1, $1.41 and the high of 3/3, $1.66, we could reasonably look for something in the $1.54 area. This would also bring it to the level of a couple of support (formerly resistance) lines I think may be in play. Considering the prior high of $1.56 on 2/14, a lower one on 2/18 of $1.55 and another on 2/25 & 2/28 of $1.55, I think there's a good chance that it will reach that and could find good support there. And there's a high of $1.54 on 2/8 as well.
Arguing against support there is the 20 day SMA that Eastunder and CaptWhizBang made me aware of. The PPS has tended to come back to that SMA, rather than the SMA coming to meet the price (sort of logical if you figure the price doesn't flat-line much).
Right now it's $1.48, rising (just a bit less than 2 cents/day) and it just entered a potential trading range I was tracking. So we could see some reversion to near that line. If the complete reversion takes 3 days (seems a common period?), the 20 day SMA would be around $1.54 (there's that number again!). If it reverts in one day, ~$2.50.
In any case, if it does revert to anywhere near these areas, I think you've got a good re-entry point. I'm currently planning my re-entry for around there (modified as I watch intra-day and daily activity, of course).
My caveat: what will market makers be doing now? They can tank it if their needs dictate that. We have no way to tell what might be their short-term moves.
MHO,
Bill
News 
Market Data 
Discover 
AI
