123 8 3
Measured move on Pipe Bottom. If it makes it there, look for a possible pull back to form an IHS            
IHS setup broke down on friday. Possibly bankruptcy before Jan 16, 2015. It may skip an interest payment on Monday thereby triggering a default on its bond.
I've actually shorted at $11.80, which was a near-term mistake. Is the neckline around 12.30 ish? Should I bail and run once it retreat back to the neckline?
KLang AlphaxRx
I trade patterns. I can tell you what I think was in play. I can tell you what might get in the way of tgt being fulfilled. But, I can't tell you what to do. I can say that if you don't "see it" don't play it. It's the best way to stay out of trouble. Good luck.
Thank you. I see the neckline now, it's at 14.30. Good advice!
KLang AlphaxRx
But remember, it's dangerous to front run a pattern. Just because it looks like a nice neckline, doesn't mean it will happen.
Are you posting an update to the CZR chart. It broke out the 50 SMA. What's the next target? Thanks in advance.
KLang AlphaxRx
I'm not sure if the 20wma will provide resistance. If I had taken it, I would take at least some off, especially if in near dated options.
KLang AlphaxRx
Also...if it wants to put in an IHS - this would be an idea place for a neckline touch.
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