RE:RE:RE:RE:6 month uptrend breachTrooperhobo wrote: But ertguy..didn't you say, a week or so ago, that if the SP gets to .43, then look above- 50's were coming. We did hit .48, and the slide today.....I'm not against using technicals, but the fundamentals should drive decisions...some chose today to leave -- others (like me) are new. I see the potential...perhaps those leaving have just broke even....I'm slightly up, and if a little weakness emerges next while...I'll stick with it.
Yes I did say that. I also said it was a technical breakout. I wasn't the only trader who Identified the breakout price which is why you saw such a strong move. However but the beauty of buying and selling objectively and not emotionally is I had no problem selling into the strength given the amount of shares on the asking side from 49 cents all the way up to 60. Which is why watching level 2 is equally as important. What I find funny is how retailers here think technical analysis is cr@p, yet fail to realize that the very banks they do business with provide technical analysis on every stock. Scotiabank has long term resistence set at 50 cents. At this point I think it's worth staying on the sidelines for awhile because that 50 cent break at this point isn't coming any time soon. Quite honestly instead of picking a bottom here and trying to panic buy its better to wait for the stock price to settle out if you're looking to get in for a long position. But then again by the time this split happens the current stock price of PHM doesn't really mean a whole lot on the technical side anyways.
With regards to the split, I know the market has had green days when the split was mentioned and has responded in a bullish manner, but quite honestly I see little to no benefit to doing a split here. At this point it may be worth waiting until it actually happens and reevaluating the Viemed side of the business since it has confirmed quarterly growth. A good example on the TSX side with regards to splits would be ECN and EFN. I currently own ECN and trade EFN, but you can see ECN has done really well, while EFN has underperformed quite significantly. However a small cap split really doesn't get me too excited. Not a whole lot changes really when you think about it.