Re: Interesting 2 min & 22 sec at the close! Encouraging Observations.
posted on
Mar 01, 2011 11:14PM
There are always going to be traders willing to take the risk to short a stock; in regards to Silverado, short traders are currently eyeballing two indicators, they hope to put in a top (resistance) here at .0045 and secondly they are looking at the (RSI) Relative Strength Indicator that is approaching the threshold of over bought territory; one of two things could happen at this pivital point, shorts make a stand right here @ .0045 and help push the stock quickly into the RSI over bought territory to cause a correction to consolidate while RSI cools off or the new short sellers could be taken out on huge buying momentum to cause the stock price to advance quickly up the chart. MHO
link to current Silverado Daily Chart - http://i55.tinypic.com/4zudg3.png
Keep in mind that the MACD indicator has just turned positve.