The TWTR longs who capitulated in the spring appear to have given way to stronger hands now with more conviction in the name, in effect drinking their milkshake.
First things first, though, as we need to see a close over $35.14 in the next week or two to get that move over $40 in effect from the inverse head and shoulders bottom, outlined again below on the hourly chart. I am impressed with the action again so far this morning, but will way until the afternoon before I decide whether I add into it again.
Elsewhere, natty gas is a mess following the report. Buyers are trying to regroup now after an initial plunge. Here, as well, I am looking towards the afternoon today before I make a decision.
And for the first time in a while I am considering some NUGT again, or perhaps gold and silver longs. Stay tuned.
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$GLD does look good, espec
Hello Chess.
NUGT looking great on the B/O from its daily small base, still a dead cat bounce but like TWTR’s Pullback last few days NUGT’s pullback will give clues.
All the best.
Nice call on TWTR. I didn’t think it would go up this much, but looks like it has. I made some nice $$ on it + FB today.
Good look on TWTR Chess