It looks like the decline has formed as a leading diagonal with 5 overlapping waves. There could be further downside, but I wouldn't be surprised to see an upward correction at this point. Volume has been somewhat declining as price is forming new trend lows, so I am happy to close my shorts here for a decent profit.4/01/2008
SWC (Stillwater Mining) Update
I last posted about SWC here. It topped a day after that post, and has since dropped about 37%. It has nearly reached my $14 target, so I am closing out my short trade on this stock.
It looks like the decline has formed as a leading diagonal with 5 overlapping waves. There could be further downside, but I wouldn't be surprised to see an upward correction at this point. Volume has been somewhat declining as price is forming new trend lows, so I am happy to close my shorts here for a decent profit.
It looks like the decline has formed as a leading diagonal with 5 overlapping waves. There could be further downside, but I wouldn't be surprised to see an upward correction at this point. Volume has been somewhat declining as price is forming new trend lows, so I am happy to close my shorts here for a decent profit.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment