Hingdog you said "The above aside, one of the beautiful aspects of the chart is how well it has followed the rules, both on the way up and on the way back down,"
That is the point i have been trying to make in very simple terms it is a beautiful chart because of the way it conforms to the stages, of Weinstein's trading strategy. I admit it may be a bit premature in calling it in stage 1, but on the daily chart it looks as though its beginning very early stage 1.
I don't know what Weinstein would really say, except its conforming to his stages, its not a piece of junk just because it hasn't quite got there yet. Your quite correct the insto's have distributed some or all of their shares to retailers, and triggered a sell off..Long term retail investors see their paper profits disappear if they haven't sold by stage 3 when the share price is dropping below the 50sma. If the price has bottomed and then moves sideways it means the professionals are beginning to accumulate again and we are moving along stage 1.
I definitely feel a great deal of sympathy for those that have been divested of their shares with a loss or held onto their shares and made a paper loss of large proportions, I will say that from first hand experience with other stocks, you are not alone brother.
I do think those that have held and those that buy in again, or buy for the first time at some point along the way will be rewarded with much greater profits, hopefully in the near future I will be buying into this stock at some point. I believe in the future of the company and will put my money where my mouth is.
CU6 Price at posting:
$3.91 Sentiment: Hold Disclosure: Not Held
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