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Registered User
Joined: 8/30/2005
Posts: 29
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Would this be a good time to go long on SLXA due to the recent pull-back?
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Registered User
Joined: 12/8/2004
Posts: 1,301
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SLXA has the cramer effect. He recommended it yesterday. The stock broke out of it's downward channel strongly but who knows if this is being caused by a bunch of cramer sheep, or true demand.
Based on cramer's track record, the stock will probably move up. Just be careful.
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Registered User
Joined: 5/17/2005
Posts: 221
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Havenocents has a great point. One has to ask why this stock had so much volume today. However saying that the stock has been in an uptrend overall over the last year ( look at the weekly chart). It has been forming an ascending triangle / wedge. With the breakout of this pattern today this stock may go higher in the near future. If I were to go long in it I would wait for either a pull back or a breakout on heavy volume above the 10.2 resistance level (giving better confirmation of investor sentiment in the stock)
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Registered User
Joined: 12/8/2004
Posts: 1,301
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I wish cramer would recommend one of the stocks I own. I would keep it for two or three days and sell at least half of it.
When he gave a buy on sirius it moved the stock up for three days and almost moved me out of my short, but alas, it continued to decline and saved my profits.
I just can't believe one person can have so much impact on heavily traded stocks.
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