Thanks for the explanations on the candles. Another question for you---could you explain to me who then benefits by this situation where the stock (MNCS etc.) drives up and then the bottom basically falls out? I just don't get the logic of the whole situation so need your "words of wisdom" P.S. What also is the deal with that BCRA that was mentioned and I just took a look at-that looks ridiculous?
This is a good example of how a heavy reliance on math and trends is an advanced method to go broke. If past price trends could tell you anything about the future price of a stock, then the forbes 400 consist of historians.
And its still going up ... this is a repeat of MNCS and it will have a massive implosion, but not for awhile. hopefully it will be shortable
Did you keep your 6K? It looks like the pattern though is different at this point vs. MNCS as it stalled for most of the week. So I'd be curious as to your position at this point, and how you are going to play it from here on out. Thanks.
The problem is I can't sink more than a small % of my portfolio in it due the risks of it suddenly imploding.
I know exactly what you mean. I actually was following it this week, but when I saw 4 straight days of no movement I thought the MNCS pattern might not apply---it went up today, but if you look at the trades most were sells...if you have any other ideas I'm "all ears". The only close ones you may want to look at are EBIX, PMFG, and KTII but they are stretches. Don't know about you, but the old adage of cash is king might apply don't you think?