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NYC Trader

01/12/13 11:42 PM

#11247 RE: hawknelson #11245

USGT Showed the past 2 days that it still great bounce back ability, I am taking another position Monday.

eelfland

01/13/13 12:01 AM

#11251 RE: hawknelson #11245

NO! Not after that rally. Everybody saw what happened last time USGT got into the nineties. It failed. People will be less eager to buy it up at that level again. If you must buy it, buy it only on sharp breaks such as we had Friday. If you'll check back, I suggested on Thursday that it might see .40 before it upticked. Those are the times you want to buy, when everybody else is selling. Next time it will probably plunge far lower than that, especially since it has no real value. You'll be exposing less money, and taking less risk. That way you can be taking profits while other people are buying at the tops, when the RSI is in the so-called "power zone." That way you won't be one of the bagholders, unless you carry it overnight or longer at a loss.