davros wrote:Cobra somebody mentioned RIMM the other day and you said if you're not a trader just forget it, which I fully understand, it's better for people to buy things going up!
But just wondering about that huge volume day recently, would that count as 'exhaustion selling'?
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now could see as back test of the previous low therefore chances for a bottom. still it's for traders only.
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Bulls shake out? or this damage a start of a crack. 5 dma, 133.2-ish level got defensed. this is one good buying so far, well, but the buying is not as strong see RSI<50, macd is negative . I see the weakness to continue for the quicky DT
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tough call here, I'll watch for awhile. The setup is ambiguous for me, both short and long seem fit, so I don't know want to do now.
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To those elliot wave counters, I were wondering that are we on wave b from 60-min chart? If so, wave c must not make a higher high than beginning of July's high? Thx....
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BullBear52x wrote:Bulls shake out? or this damage a start of a crack. 5 dma, 133.2-ish level got defensed. this is one good buying so far, well, but the buying is not as strong see RSI<50, macd is negative . I see the weakness to continue for the quicky DT
Yup, that's what I was thinking too = start of a crack.
Couple days with questions like today, and the dam will break.
the 3rd attempt to breakout, critical here... More likely to make it but if failed, then no good. Let's wait.
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volume surge, overshot, not good, but still bears need a L2. Wait...
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Cobra wrote:volume surge, overshot, not good, but still bears need a L2. Wait...
Looks like a measured move up from the consolidation area upwards to fill the gap. Such a huge gap down usually have low probability to fill it. Today seems to be the exception. Huge A/D negative from the open, but the market doesn't give
L2, let's see if bears can push the bulls down. still tough call here, bears have the ball though.
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