MA: Will it fill this gap?

Discussion in 'Stocks' started by matgallis, Jul 3, 2008.

  1. I've been short MA since $277, decent return in a short timeframe. I've been expecting it to get close to this gap and finish the right side of the head and shoulders pattern. Mind you the h&s pattern is a little off, with a loosely defined neckline but has the appropriate volume spikes signaling it should finish the right side


    However, last 2 trading days have shown long wicks to the downside of the trade, nearly the same price area. has me worried that this gap is seemingly a huge support area? What are the thoughts on this trade
     
  2. Tried to edit first post, too soon

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  3. hold, ma will drop to 200ish easily. if your size is large, trail it tight in case it suddenly bounce. i am shortimg it too, it is a no brain short. normally i hate to short monster. i like to short penny like RHD, PEIX, .... if you time well, your gain if you use full margin, would yield a fortune in a trade.

    to me, your short is just like from 2.77 to 2.5, that gain is too little!
     
  4. Well it's filling the gap :)
     
  5. dsq

    dsq

    how can you stand the volatility?Thats a huge drop....i wish i could hold onto huge winners like that...
     
  6. Not that much volatility unless you mean intra-day. Been a steady decline.


    I think it's about time to jump ship. Ma filled the gap but failed to go lower. 11%, not to shabby
     
  7. Klamath

    Klamath

    It's such a tight, well defined downtrend, I can't even think about covering until it violates it.
     
  8. well it was down when i covered, closed up 18 pts...
    :eek: