RE:Level 2
Shirtlessnomore wrote: But I will say level 2 is pretty ugly, if this breaches 2.75 substantial drop could occur. Lots on the ask to 2.85 and not much on the bid below 2.75
I see you have some mixed emotions on this issue. I buy and sell strictly on T/A. The Relative strength indicator has been dropping for the past 5 weeks. Now stands at 57.65.
Also on the negative side is the stock slightly below its 10 week M/A. Last trade 2.77, 10 week M/A $2.80. Rule of thumb is two straight weeks trading below the 10 week M/A you sell and get out. That being said, I am the first to admit I have been bitten more than a few times following this strategy. Over the long run it is safer strategy as you never get stuck holding a stock that is finding a new low week after week.
Still holding but not nearly as confident as I was last month.