MURICO.com Forum

Typical knee jerk reaction-----

to yesterdays overdone profit taking selloff. My damage control @ 65.27 was hit very quickly on my sell signal shorts @ 65.20. I was expecting that but didn't know if there would be follow through to snag my north end lines @ 65.47 when real trading began. So I had to wait to see whether north lines or south lines 64.52 got the action. It didn't take long to snag the 65.47 but I had to suffer waiting anxiety for my first target @ 65.75 that also quickly found the 2nd target @ 65.95.

I was a bit surprise by the extra 15 cents to 66.10 but as I studied the 60 min chart I realized that is exactly where yesterdays bounce off of the early 65.17 low, made the final decision to reject support @ 66.00. should see Dec battle over the 65.50-66.00 area for 60 minutes and then make a choice to hold the high ground or sink back down to the pit @ 65.00 If Dec can't manage to close the week above 65.20, the sell signal will have more conviction.

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Typical knee jerk reaction-----
Re: Typical knee jerk reaction-----