GREY:MLKKF - Post by User
Comment by
georearlon Apr 06, 2010 6:40pm
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Post# 16962800
RE: re RE: To the PRICK that is giving out the 1's
RE: re RE: To the PRICK that is giving out the 1'sThis has fallen pretty far and hard over the last 3 days. I thought it would test $2.25 and hang around there for a while before deciding to go down to $2 or start to climb. Yet it dropped right through that level like it was hot lead dropping on a wax floor. So my thoughts? Tough to tell. What I think is as follows:
1. It has fallen too fast and it will rebound some. So there may be some money to be made on short term trading. Very short term - it is waaaay outside the bollinger band.
2. We have heard lots of talk about capitulation, and that may be the case. It certainly looked and smelled like it to me today. However, capitulation does not mean it will climb back up at the rate it came down. So no huge rush to jump back on unless you are gambling and want to get every possible cent you can.
What I know is this. I did not buy in today. I will wait until there are multiple indications of a turn. As yet all we have is the massive volumen spike and RSI starting to touch oversold. I was severely tempted to start building a position though, I can tell you that. I had my finger on the trigger more than once. When I see the MACD start to look better, I'll probably start in.
GLTA
Georearl (The Profit Come Off It)