GREY:CRXEF - Post by User
Post by
dudediligenton Dec 02, 2010 11:56am
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Post# 17789767
Third Leg
Third LegTechnically pullbacks occur in three waves, not always but quite often. Today is the third leg down and therefore is the day to accumulate more which I did minutes ago. Look for a reversal from this level, maybe even an intraday reversal. Did you just notice a bunch of asks being pulled. There were 50k for sale at 65 cents a minute ago and now there gone, oh now they're back again.LOL....Good sign!
Many are talking about MM's driving this down so play it to your advantage. Play with them not against them. Take out their asks and they will be short covering in a hurry. This is a risky price point to short now after pulling back near the original breakout point. They are more nervous now than you should be.