Replies to post #40263 on lowtrade

[lowtrade]

Shit I checked GLER early Jan to see if I should remove it from weekly watch a did. After trading the run in Oct.

Long story short; NO it's not a reverse heads & shoulders, but I dropped it from watch because it did have a heads & shoulders pattern. Meaning it should have fallen down farther, not run higher. But it's the wild west of OTC manipulation we're talking about. Chalk it up to missed another one.

reverse heads & shoulders
http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:head_and_shoulders_b

heads & shoulders
http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:head_and_shoulders_t

Right now it's follow the #! rule for all trading. Never chase a running stock. IMO It's too late and will probably stall at top resistance. One could watch for re-entry on a new breakout then. But I doubt there are any new funding shares left for sale after Januaries run. Expect a flag retrace at top resistance, if it bounces and continues past top resistance from a flag is the question and reason to watch. Trade the flag not top resistance break without it. The minute you buy a running stock it will screw you and dive. At least that's my personal experience.