My guess 35 or so. But I would not take the stock home. The problem is the company has not released - to the best of my knowledge- its results of the internal accounting following the SEC's inquiry. News of the SEC's inquiry was 6 weeks ago. That's a long time. Big black cloud. But whenever the results come, I would not want to be holding a position.
why didn't you short again @10:45ish on that big red candle that dropped under the 20 ma? you'd be looking pretty about now. that would have been a nice nvda play. better luck next time :-|
I just didn't expect any follow through after 10:30. I figured everyone had gone home already. -Johnny
Friday Sold BBH 120.10 -2.20 Sold WMT 59. -3.06. Out of office this morning, otherwise, probably would have sold WMT near the bell. Dubious distinction taking that big a hit on WMT. Current positions: 500 RYL short from 90.45
Long KLAC 66.07 1K Long ROOM 60.06 1K Having 2nd thoughts about the latter. QQQs Ping Pong Today QQQs finding support at .50 retracement of Sept - Dec move (35.22) and .618 retrace ( app 35.45) of Feb-Mar move. These levels have held the downside, so far. The upside move yesterday terminated between the .50 retrace of the large Fall move and the .38 retrace of the Feb-Mar. move. Bounce or breakdown inevitable? What about these analysts today acknowledging the unavoidable, are they trying to buy credibility?
IMO ROOM is forming a nice channel upward and it appears it is close to testing support within the channel. I might go long tomorrow and use a tight stop.
I agree. But it is such a thin stock I am a little flexible on stops. ROOM had a high volume selloff a couple of weeks ago, but this season so have many stocks which then surmounted such a selloff in short order. Unusual. I am concerned that those fib bands on the QQQs were pierced today, but I am anticipating a rebound tomorrow intraday at least.
Maybe I'm missing something, but ROOM is trending down on all my charts and was consistently below the 10ema from 10:40am. Looks like more downside before it turns up.