Kalaru, I won't speak to its fundamentals, as I believe market...

Kalaru, I won't speak to its fundamentals, as I believe market sentiment is the defining tool with which we should use to trade the markets.

But If you believe that a company is a bargain at a certain price or that it is overbought at a certain price you are in essence trading your beliefs or someone elses beliefs about the market. You are not trading the price action as it occurs. You are in fact likely taking a contrarian and risky view to what the market dynamics are trying to tell you.

Will WOW get to $15? Of course I have no idea. I couldn't tell you what the market will do on Monday.

But i can speak to probabilities. Is volume telling me that money is flowing out of WOW? Absolutely - with 100% certainty. Its done for now.
What does this mean for WOW? Well, it certainly isn't reason to panic. Yes, in all probability the price will weaken from here. The Symmetrical triangle has been brewing for one year - this is just a name to define a dynamic tug of war between buyers and sellers - you can see it and I shouldnt have to really draw it in. After a year of battling there has to be a capitulation to the downside or, having absorbed supply, a significant movement to the upside. This is what ppl will be waiting for - what way will she break.

Imagine trying to gain the upper hand for a year...once you were exhausted and could no longer sustain your position, the movement against you would be considerable. This happens with distribution. There is a slow but steady transfer of stock to weaker hands and then the floor is removed.

You then have a breakdown target that is equal to the triangle range. It will find support at $20 initially but I doubt it would hold here if it broke down this far.

The only reason you would not accept my argument is that you hold the view that this is a mere consolidation or sideways period before WOW continues its bull run. I don;t believe the volume supports this hypothesis but I suppose many of you would hope it holds here before moving up.

Once again, are you trading your beliefs or what the price action is telling you?