technicals, page-27

"Above we have the 200MA around the 1.50, 38.2% fib at 1.65, a trading range of 1.76/1.80 to low $2.00s. and a 50% fib at 1.92. A close above 1.75 would put us in a new range."

Well I exited yesterday a bit early around the 1.60s thinking the sell the news pays off more often than not, but in this case I was wrong. Today we are in the trading range. Usual practice is to take half profits and let it run, but the influence of news and a good profit already made on the traders had me exit complacent instead of aggressive.

This parabolic rise would need to correct or consolidate some where if it were a normal stock or indicie, so is there more to come news wise if it doesn't? I am going to sit on the sidelines as far as trading shares goes for a while today and wait for better guidance, and see if it can hold at these levels.

It is outside the BollBands and needs to pull back to the mean sometime. I have the upper BB on the chart, and a number of examples on the 3rd chart that shows LNC in that period had 5 previous experiences of trading above the upper BB, and they all lasted 2 days. If things are different because of more news we dont know of, then you would think it could defy this, otherwise history is showing it will pull back towards the mean with a correction or consolidation pattern...that is what I am waiting for now that I do not have any traders in action.

In addittion to the 50% fib discussed above, I point out a falling trend line from the all time highs in Sept 2008 that crosses our path today at 1.84. It sailed right through it in the last rise in Jan 2013.
It has 2 stand out highs on the chart, and the later chart breaks down the touches in the last phase up and down. It is not as precise in that action, having a number of opens and closes touch or very close, but more of action around that clear respect for the line. Therefore I cannot say with conviction that it is a trend line of high value, but it is worth keeping an eye on as it has attracted some action. I like to have precise trend line touches in TA otherwise you start searching for answers or reasons, which is the emotions taking control. I notice a lot of chartists though are more loose with touches and accuracy. I want to keep the emotions more under control.

There is also a gap at 1.815, although a small one, and now 2 new gaps below.

Charts are as of close yesterday.