On the 30-minute charts for VJET TSLA, first and second below, you can see the steep selling in recent days. Typically, 2013 has seen high growth momentum issues snap back immediately from these conditions, otherwise known as a V-shaped rally to fresh higher. It certainly does not always work out that way, but in a fierce bull market shorts and weak longs often take the brunt of pain in these marquee stocks, either shorting low and covering high, or buying high and selling low–Simply put, either you are in them to win them, or you are sidelined.
Of course, the tide eventually turns; it always does.
What we are looking to see now is if the same knife-catching behavior in these stocks is rewarded, yet again. You can see the 30-minute charts point to steep declines without an immediate V-shape back…yet.
Also keep an eye on DIN, another (albeit very thinly-traded) casual dining play acting well, on top of the monster FRGI and RRGB.
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V either stands for Visa or Vendetta…I thought VoxelJet was a German airline
LoL
Hello Chess.
V for victory. Indeed the nice contraction on price, the 15 HL + what looks like capitulation volume during the 1 hour.
VJET looks great for a decent bounce like ONVO today.
Whats your play on $TSLA, still holding small position but believe in a bounce on model S being cleared. Is it set to go lower and when would you increase position?
No play yet. See if $115 holds.
Checking in to say thanks again for your input on adding more GOGO yesterday, nice pop on some WSJ article…fortunate timing.
Thanks!