MA: Will it fill this gap?

M

matgallis

I've been short MA since $277, decent return in a short timeframe. I've been expecting it to get close to this gap and finish the right side of the head and shoulders pattern. Mind you the h&s pattern is a little off, with a loosely defined neckline but has the appropriate volume spikes signaling it should finish the right side


However, last 2 trading days have shown long wicks to the downside of the trade, nearly the same price area. has me worried that this gap is seemingly a huge support area? What are the thoughts on this trade
 
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hold, ma will drop to 200ish easily. if your size is large, trail it tight in case it suddenly bounce. i am shortimg it too, it is a no brain short. normally i hate to short monster. i like to short penny like RHD, PEIX, .... if you time well, your gain if you use full margin, would yield a fortune in a trade.

to me, your short is just like from 2.77 to 2.5, that gain is too little!
 
how can you stand the volatility?Thats a huge drop....i wish i could hold onto huge winners like that...
 
Not that much volatility unless you mean intra-day. Been a steady decline.


I think it's about time to jump ship. Ma filled the gap but failed to go lower. 11%, not to shabby
 
Quote from matgallis:

Not that much volatility unless you mean intra-day. Been a steady decline.


I think it's about time to jump ship. Ma filled the gap but failed to go lower. 11%, not to shabby
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It's such a tight, well defined downtrend, I can't even think about covering until it violates it.
 
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