Originally Posted by
waldo29
Sometimes, but in this case, I would say if they were going to cover, they did it on the recent move down to 3.85 rather than wait for a breakout. Off the last 3.65 test the TA said breakout, shorts were at least as aware of it as we were.
We don't want to close below 4.02 [Edit] meant to say 3.92. [End Edit] (bearish engulfing). I think we hang around my sell area, 3.96 the rest of the day and will have another impulse up tomorrow. I wanted it hang around the mid 3.90's until the cc, now we have 4.04 and 4.07 as resistance. Still doable, but it is easier for the stock to become exhausted right before or right after 4.07 if it has to jump two hurdles.