RE:RE:TA review of chartsYou keep playing with shorting the garbage dumpster your going to catch fire and all for what a 2-3% daily gain? lol You just lost a week of work in one hour. Funny thing here is that it's likely the technicians that were doing the buying. ..kind of ironic eh? I like to call them the 2:45pm guys. Thanks for the 2:00pm chart review PRO...learn and share as you say it.
PROtrading wrote:
Here is my review of charts. This is not to convince the fundamentals and non-charters that charts are god. They aren't. But for I'm here to learn and share.
Day chart - negative. Trend is set. No momentum and positive MACD not showing up on the SP. Bad news. Means the markets has lost confidence.
2 hour chart - negative, Any possible upswing from positive MACD is getting nulled by momentum indicators. Corrected oversold seen earlier this week.
Yes the 15 min chart isn't as negative, but it's almost showing we've peaked here at $4.83?
But momemtum is positive but almost like a whale coming up for last breath of air?
Man, really, really tempted to reshort. If I can make 2 to 3% per day, I'm happy on this thing...
I was really expecting insiders to start buying this week but they haven't and that is scary. It means they have no confidence in Q3 which is about 20 days away...
So I am in fact going to reshort here at the $4.80s There's a lot of people on L2 wanting to dump and sell at these levels here so I might as well front run them by a penny or two!
My bet right now is Q3 will be another disaster and insiders might start buying starting Nov. 13th. If they were to buy, the charts would have indicated so and the filings would start showing.
Hummm... pull the trigger on the (short) sell or not.... hummm
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