The chart is completely busted and my -5% loss is -9% in a few hours. (this was a +6% gain about a week ago) With the technicals trashed I am going to leave and return once Maidenform Brands disgorges its cloud computing business.
p.s. I should have shorted that stock at mid $107s I sold not 90 minutes ago, with target of gap fill at $100 after all, it's already down 5% from where I sold. However, after being beaten like a seal by Ben Bernanke's club for 6 weeks straight you lose your fight, especially in a rigged market where Fed officials now blatnatly say out loud they are trying to manipulate asset prices. What a joke the market has become. An embarrassment.
From "Mr. POMO" himself
- Brian Sack, who oversees the Fed's System Open Market Account at the New York Fed, "Nevertheless, balance sheet policy can still lower longer-term borrowing costs for many households and businesses, and it adds to household wealth by keeping asset prices higher than they otherwise would be."