todays dropOkay people today sucked, this week sucked, especially when you see the major indexes up and your screen is mostly red, it hurts. You know this is a good investment, don't loose sleep over it. I treat this as a long term hold, I know some of you day trade this, not for me. I prefer to day trade large caps much easier I find, anyways that's beside the point.
My point was this week was very hard for a lot of us mentally and accounts are in some pain, monthly options ex is very hard to trade, patterns don't play out properly. Remember hegies and institutions that write the calls suck in the retail in investor on mon, hoping for a big bullish move only to wipe them out and bring it to a lower strike level. If you look at a lot of the big stocks they closed pinned to certain levels., most of them in between strikes. Large caps bring the whole sector down, CMK is easily manipulated.
This fall today brought us to a technical level a Fib retracement of 61.8 from the highs of 5$ and change. This is a very common level for a stock to move back up from. We should of held 4$ and change at the 50% retracement , unfortunately didn't but volume is up and hopefully we have attracted more buyers as we are quite cheap right now.
4.37 to 4.39 aprox seems like an interesting level to get through. Monday the US markets are closed I think we can get float past $4 on lower volume and that would be a good sign.
It's a painfull game, fear and greed, hopefully one day I will figure out a compromise.
Forget the market and enjoy the weekend people.