How do you define lateral resistance? The term to me sounds like a chart that is trending sideways without much up or down price action, but the way you use it sounds more like vertical price action between support and resistance.
Laterakl resistance is a line drawn horizontally across the chart at key resistance points; usually at high points in a chart (ie. like a double top). Also at low points (say where a stock gapped down).
why 12.50? KURA
consolidation level
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@Turbobob $CBI has been forming an interesting chart since its big move a few weeks ago - been consolidating between 17-18 and for the past 5 days it has been making higher lows. I believe its a good swing candidate once it can stay above 18 - thought i would put it on your radar incase its not already
@RolandWolf Congrats pal! Huge milestone - out of curiosity I was wondering how much you started with? You've come a long way very quickly! Also great 10 tips on Tim's blog!
Thanks! Funded E-trade account w/ 1200. Then another couple of paychecks after a month or so... About 4k in total.
damn thats impressive lol - and inspirational
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Thanks Bob
No covred at $1.00. Looking to reshort on a move towards $3.00
Yes, it was incorrect. But, the trade is still the same as anything that happened in 2010 is unlikely to affect the stock today. Too much passage in time.
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@Turbobob AUPH burned me today too. Bought 2k shares on the pullback at 8.05 and it immediately dropped and i got out at 7.85. This stock always seems to burn me..
Yea I liked this one too. Greg is an amazing speaker.
great lessons. Thanks Roland.
What a great lesson! I need to watch this 10 times!
Thanks Ronald - Great presentation and lots of valuable info . watched 2nd time
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