LDC870
Long

TRXC - relief in sight

AMEX:TRXC   TRANSENTERIX INC
TRXC had a nice rebound last week but ran too far, too fast, and stumbled again. Silver lining, the the 0.618 fib level on my chart held up perfectly. I was able to buy the dip @ 5.17. Looking at my indicators, I think we have another day or two of mostly trading between .5 and .618 fib levels. Expect another stop-loss raid and at least a brief moment of testing the 5.15 support. If you have dry powder, I think a limit order between 5.20-5.15 would be prime. By Wednesday, everything should have cooled off some and consolidated, and I estimate that we'll restart uptrend Wed-Thurs this week.

FYI - bond markets are not open today, so be weary of fakeouts - the real test will be tomorrow.
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