Post by
takingthemon on Oct 22, 2013 10:55am
MMT...AGAIN WATCH THE SELLING
Once again I am looking to add back the rest of the position sold off. Some was re purchased and the rest I am adding slowly today if the selling tapers off. This could be another short term trade. With OIL being weak and the stock holding in, I see a move back to the $1.21-$1.25 again.
This stock as I have said many times in the past is a trading stock until late Q1 or other big news.
Good luck and if you are following the charts and trades you would have had a nice October so for.
Regards
Comment by
gibbonsj on Oct 22, 2013 11:16am
sounds reasonable, I have a low ball bid in at 1.10. but 1.15 is likley more realistic.
Comment by
takingthemon on Oct 22, 2013 11:28am
If you get filled at the $1.10 area then all bets are off. That would make the stock take a turn for the $1.00 again. The buying volume that came into the stock from $0.99 to the $1.18 is new support. If the stock pulls back below and closes at or near $1.10 then we are on a sell off again. Support here is wanted and needed for everyone. Regards
Comment by
gibbonsj on Oct 22, 2013 11:33am
Can't over think this stock. The bottom is where the bottom is. Support is a fickle thing, just have to position for the bounces.