LMAO. I have decided that I am riding this storm out, got to go with my intuition. If it goes low enough that a reverse split takes place, so be it. Call me stubborn, but I feel that I have history on my side, we will test and possibly even break through the previous lows, and when that happens I should be able to unload this with a much better price than $9. Yesterday was the start, just hope we don't have too many 50% rebounds on the way down. Appreciate the advice, and nice trade today. That is how these things are supposed to be played.
LMAO. I have decided that I am riding this storm out, got to go with my intuition. If it goes low enough that a reverse split takes place, so be it. Call me stubborn, but I feel that I have history on my side, we will test and possibly even break through the previous lows, and when that happens I should be able to unload this with a much better price than $9. Yesterday was the start, just hope we don't have too many 50% rebounds on the way down. Appreciate the advice, and nice trade today. That is how these things are supposed to be played.
Thanks.
Sometimes I have the tendency to want to play for the home run, to hope that FAZ goes from 10 to 30 while holding 2000 shares. That may happen in the future but I think we can make a quick buck by trading from 10.99 to 11.50. That's still not a bad trade.
I was just looking at 30 minute SPX chart and it looks like we might have the right shoulder on Head/shoulders forming. Left shoulder peaked on 4/13 with a high of 864, head peaked on 4/17 at 876, and it appears that right shoulder in process of being formed. As long as Fridays high is not breached, should see a downtrend. These technical patterns have not panned out well as of late, but food for thought. Take a look and share your thoughts.
