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Registered User
Joined: 1/23/2007
Posts: 13
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This is one of the trade that I'm already in. Feels like a decending triangle. I got in two days ago before the bounce, was hoping that it can move out the triangle in a day or two, but this bounce is kind of weak :P What do you guys think?
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Registered User
Joined: 1/23/2007
Posts: 13
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Previous RUN:
01/09/07 Low 3.40 -- High 4.19
01/24/07 Low 3.38 -- High 3.71
01/29/07 Low 3.36 -- High ????
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Registered User
Joined: 4/17/2006
Posts: 271
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If you look at the daily, it looks like a train wreck. However, on the hourly, it looks more hopeful, like a triple bottom (1/10, 1/23 & 1/29)...BUT there's what looks like a dark cloud cover or bearish engulfing pattern at the end of today. Looks kind of shakey to me. MS, OBV, BOP, TSV not good. But I'm new at this and could be dead wrong, so maybe some seasoned traders might have some thoughts on what action might be appropriate here.
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Registered User
Joined: 7/24/2005
Posts: 30
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FICC- those blips look like short covering to me. Looks like a good short though.
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Registered User
Joined: 1/23/2007
Posts: 13
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lol, alright. I was hoping to sell at 4 for a nice gain too! I must admit this bounce is pretty weak.
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Registered User
Joined: 4/17/2006
Posts: 271
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BTW, Excellent title: "Dead Cat Bouncing". 
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Registered User
Joined: 4/18/2005
Posts: 4,090
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you may get a bounce out of this.. try looking at RSI 15 and RSI 75. Short term RSI is improving, but as I see the triangle this is a consolidation/continuation pattern for more down side. That being said almost all my calls have been off lately.
Don't forget the market emotional cycles.. this stocks may be nearing desapair soon where smart money starts buying as those who can't take the pain get out only to watch their positions recover. this has fallen so much if I as my self the question would I want to be sort in it I think I wouldn't ... not for long anyway... so.
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Registered User
Joined: 1/23/2007
Posts: 13
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Fell through the support today, down more than 11 percent. Thankfully I had a already grab my money and ran a couple days ago. Thanks for the good advice guys.
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