I can understand your reasoning, and Time will tell as usual. I was expecting a breakout, due to recent activity on Chart and when the low of 23.21 held 5 points above the 29/01 low my gut feel was that it would rise but I was thinking it would react, but I did not expect 5% and a Close on the high which is extremely bullish IMHO.
Due to missing my entry around 22.98 on the 31st I decided to wait and watch and bought into Evn on the 08/02 which is currenty up around 7% in 2 Days.
Due to Ncm recent weakness, it will be interesting to see what happen when the general market has a decent reaction, as this will be the test for Ncm IMO.
If a Bull Market has started from 21.53 there will be plenty of opportunites to Trade so don't let it get you down as making mistakes is all part of learning and quite healthy IMO.
I also feel that there are some on HC who seem very negative towards others and don't offer much of value, which is not conducive to learning. They seem to enjoy the suffering of others. I think that they need to remember that there are 2 sides to a market, both are valid and needed or there would not be a market.
Anyway SP is currently testing the Mid Point of Low of 23.21 and Minor High of 25.97 which is 24.59. 50% of Range from 23.21 is 24.655 which is a major Resistance Point, also 23.66 is 1/8th or 6.25% on the low of 23.21. If Ncm stays strong 26.10 may be possible as this is 100% of Range from most recent low.
Good Luck to all and well done to Long Term Holders.
snider
NCM Price at posting:
$24.52 Sentiment: LT Buy Disclosure: Not Held
