You guys know there are books on this stuff right?
I'm no genius, lost money for years, but there are indeed books on this stuff, which is where I learned to be a respectable trader. Or you can find this stuff on the world wide web.
200 day moving averages, uptrends, channels, overbought vs oversold yakity yakity yak, lotsa stuff to learn. Too much really, so I keep it simple.
The 200 day MA is VERY powerful. If you materially break it to the downside in a correction then generally speaking, look out below!
But if a stock comes down and bounces off it, it is a strong confirmation that the uptrend remains intact, so you better buy the damn stock fast, before some other fool beats you to it.
Which is exactly what I was hoping for and by golly it worked!
Anyways, I am in for just under 200k shares average .435. Still haven't fgured out where to sell yet, John Newell's charting on this one says mid .80s is next technical target, and quite frankly, I believe him. This makes me happy because that's about a double, which should be easy to do on just the promo and excitement on this deal alone.
Some stocks "look good on paper" but LITERALLY this stock looks good on paper: Print out a 3 or 6 month chart, get out out your red pen and transparent ruler, and just draw a line under the bottoms from the bottom left...going up to the top right (!) Happy to see this simple pencil and paper technique prevail again.
Anyways, nice to meet you all. Tune out the crazy fools on here. All you need is sheet of paper, pen, ruler and a little research.
As Grapes says, "It's not rocket surgery!"
But I do expect this sucker to blast off and take my $80 grand to the stars!
LSM