Trading day running commentary, page-3274

This seemingly frustrating process of buying and selling around a level (1,50) is how solid support levels are created. Think about it.

1. The confidence in the stock when the weak hands, who you don't want on the upside anyway, are shaken out.
2. The confidence in the stock through the sheer amount of investment it has to take to take it to the upside means you're riding on serious investor's backs.
3. The confidence that comes when the inevitable tests ('bad times') happen. Once we are on the upside of it.

The patient hunter gets the prize.