Scott PearcyParticipantOctober 6, 2020 at 8:35 AMPost count: 433
Trading up almost 7% this morning…..Love the volatility of this stock pick!!Sean HymanKeymasterOctober 6, 2020 at 9:37 AMPost count: 5577Scott PearcyParticipantOctober 6, 2020 at 9:47 AMPost count: 433
I was hoping it would drop a little further so we could all get our 3rd tranche….but I am glad it will be heading up soon!!Sean HymanKeymasterOctober 6, 2020 at 9:54 AMPost count: 5577
Me too. Sometimes they hit. Sometimes they don’t. Every averaging we get though is a long-term edge. Glad we got one.Sean HymanKeymasterOctober 6, 2020 at 10:00 AMPost count: 5577
There are 13 million shares short right now, that are feeling the pain of that upward move. When they cry uncle and close out those shorts, it can cause a bit of a short-covering rally. Part of wave 1’s are usually that. It can cause some nice, quick upward/sharp moves.Sean HymanKeymasterOctober 6, 2020 at 11:41 AMPost count: 5577
You’re welcome. While that’s not enough shares short to cause a sustained surge…it could cause a nice surge for a day or two or so, whenever these short-sellers feel the pain enough. Right now, they likely haven’t since its the first bounce and they still see a downtrend. But at some point, the bolts get cranked down enough, they experience enough pain and they throw in the towel and that will be part of what aids our shares goin higher.Loveit38ParticipantOctober 6, 2020 at 2:07 PMPost count: 77
Thank you Sean. Your teaching has helped me to understand the market moves a better. Still so much to learn though!Sean HymanKeymasterOctober 6, 2020 at 3:11 PMPost count: 5577
You’re welcome. I’m just glad you’re getting quality info rather than having to fish through all of the junk that’s out there and then learn that it’s junk in hindsight. It took me a while to sift through what’s important and right and what’s not. Y’all are the beneficiaries of that.Sean HymanKeymasterOctober 6, 2020 at 11:04 PMPost count: 5577
Has SAN bottomed? The answer lies in if it mainly holds above $1.93ish per share. If it sustains a move above it, then the downtrend move is likely over. If it materially breaches it, then we’ve likely got another lower low before we see the next major up-move. That’s based off of Elliott Wave rules.Sean HymanKeymasterOctober 23, 2020 at 6:51 PMPost count: 5577Bob SmithParticipantOctober 24, 2020 at 4:11 PMPost count: 133Sean HymanKeymasterOctober 26, 2020 at 8:08 AMPost count: 5577
Bob, your chart is zoomed in too close to where it doesn’t shot the breakout higher. When breakouts higher happen, it can (and usually does) hit the top Bollinger Band and doesn’t have to necessarily pull back like before.
I use the 6-period RSI, rather than the traditional 14-period.
Not sure why you’d buy a 3rd tranche because you’d just be adding more dollars at risk without moving your breakeven lower, if you bought in around the levels that we did. So, I’d discourage that.Scott PearcyParticipantOctober 27, 2020 at 9:50 AMPost count: 433
My break even point on SAN is about $2.20….was hoping to get that 3rd tranche to lower break even to $2 even….
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