Disclaimer: Steelman's Technical Charts are my own amateur interpretations of technical charts and for informational purposes only and should not be construed as investment advice regarding the purchase or sale of securities, or any other financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities mentioned herein. Steelman's Technical Charts assume no responsibility for your trading and investment results.
Friday, February 4, 2011
Here is another small cap I was waiting to reach the 38.2% retracement but again the strength in the market broke the down channel and popped. I was serious in picking up a position when it broke but again the over all market being at such highs scared me. I think it might get to 4.50 then should be some resistance and then I see where the total market is and maybe it could be a short at a double top. But will wait and see what pattern develops from this.
Again this is my interpretations of technical trading and you should consult an investment consultant before making any trades