Question for technical analysts

[Jackshark]

Quote from Scataphagos:

You've told us all we need to know about your market abilities and perceptions.

Not putting you on IGNORE just now... but one more "lame.. I've got a smart remark to make but don't know my ass from a hole in the ground" comment like that, and we'll all have you on ignore. No offense.

No offense taken or meant, brother. Only toward TA and the other voodoo traps for Noobs--- if you have the gift, more power to you!



good luck!

 

[nitro]

Thanks for all the replies. I purposely chose a somewhat obscure situation to see what people would say. I am building a stock momentum system, and wanted to see how these results compared to my system.

I hope I get many more responses, with more detailed analysis.

 

[spd]

Quote from Scataphagos:


2. Where to stop?... Ewwww. The only definite place is below $22.50. (A few logical stop places between current price and $22.50, however.)

Ya think? I like how it bounced hard and held the top end of that most recent gap. If I were taking this long my stop would be around 30even. With that gap being defended strongly once I think if it were filled it would violate my reason for being long.

I personally wouldnt want to ride it all the way down to 22.50 unless I was planning on adding more on the way down, but Nitro mentioned this was a momentum play so Im assuming thats not in his plan.

 

[ammo]

at this moment i would not buy it , notice the action to lower prices after volume spikes,indcates liquidation