Looks sketchy to me...I don't see what you see...I see it coming off $1 a few years ago and slowly fading back to that level now.
My longshot is
- Thread starter CaptainObvious
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Looks sketchy to me...I don't see what you see...I see it coming off $1 a few years ago and slowly fading back to that level now.
HPLF still running. RRGI collapsing. MBKR has possibilities today.
Thanks!
Well, that worked out well...NOT!
Glad I didn't bet the farm. HPLF and MBKR helped soothe the pain.
RRGI and HPLF have provided a very good illustration of why tight stops and taking quick profits are required for this type of trading. When the selling starts it's like a tidal wave. Very few of these otcbb stocks are worth holding. On occasion I'll hold a core position after selling my "traders", but for the most part, when I've made a few hundred bucks I'm out.
Nope! Got busy with this thing called work.
Taking a hard look at GNLM. I'd like to see it retrace a little before buying, but I'd also hate to see it run away. Keep an eye on it.I just took a look at it again. From a technical standpoint, this does appear to be a nice setup.
Let me explain:
- Formation on the chart appears to be the notorious "hammer" which when appears is supposed to be a bullish sigh. Emphasize "supposed to be". Notice when the hammer has appeared in the past, look what happened next.
- Bollinger bands- Price dropped right under lower bollinger band which is a classic trade. The price is wildly sold off under the lower Bollinger Band and thus a reaction play can be done.
- 50 day moving average- Price closed right over the 50 day moving average after a short minor violation. A bullish sign
However, there are a few other factors that will prevent myself from entering this trade. Namely that there is a lot "smack" or talking down of the markets by Greenspan and other guys. We are in May and there is a noticable weakening taking place.
I just dont have the balls to enter into a trade like this especially with a bulletin board stock. However, I do believe it will go to 3.2 the way its set up and that is a cautious belief with two fingers crossed behind my back.
Let me explain:
- Formation on the chart appears to be the notorious "hammer" which when appears is supposed to be a bullish sigh. Emphasize "supposed to be". Notice when the hammer has appeared in the past, look what happened next.
- Bollinger bands- Price dropped right under lower bollinger band which is a classic trade. The price is wildly sold off under the lower Bollinger Band and thus a reaction play can be done.
- 50 day moving average- Price closed right over the 50 day moving average after a short minor violation. A bullish sign
However, there are a few other factors that will prevent myself from entering this trade. Namely that there is a lot "smack" or talking down of the markets by Greenspan and other guys. We are in May and there is a noticable weakening taking place.
I just dont have the balls to enter into a trade like this especially with a bulletin board stock. However, I do believe it will go to 3.2 the way its set up and that is a cautious belief with two fingers crossed behind my back.