I was wrong and right at the same timeOn Tuesday TAAT closed at $2.65. I posted that was a bottom because the chart pattern led me to believe that but it was not to be. I was wrong. The SP dropped to close at $2.24 on Wednesday before it started to move up again. Today the SP closed at $2.51 and even hit $2.63 near to where it closed Tuesday. Now the chart is saying a new rally is underway and this time I think the chart might just be telling the truth.
I missed that bottom call but I am actually happy because I had a standing order that I entered more than two weeks ago in case the SP ever moved down to fill that gap from $2.20 to $2.33. That looked unlikely two weeks ago when TAAT was near $3.00. My order was at $2.20 and it got filled Wednesday. So I was wrong but I was right on the same day. How is that possible?