RE: Buy in tomorrow? Hi Mac: Right now I am thinking I may try around $2.15 tomorrow. I will have to check the markets in the a.m. first.
I have found the fibonacci theory very helpful but it has taken me a very long time (mathematically challenged!) to grasp it in a very basic way. I am now trying to get a handle on Elliott Wave theory-another puzzle for my right (rt or left?) brain.
I was also looking at the 200 DMA. Then, if you can find a horizontal trend line...it can help. Also, TJ put me onto finviz.com a while back and I check it every day. There is a very interesting confluence of three trend lines at around $2.30 today but we didn't hold so perhaps it is more indication that we will go lower (than 2.19) tomorrow. ? It does look like we will have to pull back before making another run to close above $2.30. Can you see that?
Today it is trickier. I'll need to rework numbers but if coals are down again (maybe I will check premarket for some of the larger ones) I will enter at $2.15. but this time it is less clear.
A big help is BB on the daily chart! When we closed at 2.19 I didn't get what I look for - for confirmation of a low-in other words I want to see a bold, red line drop below the lower band.
So, you see, I try to check as many indicators as possible. I am very much an amateur. I hope this helps, Mac and am happy anytime to offer a suggestion. Just remember, disclosure: I can only offer what I am using without any pretense of professional, reliable advice.
Hope it helps. Hope we all make a lot of money here.
(The gremlins are getting wet in No. California -Hope they don't melt.)....whoooooooooooo...)
Sharpei