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Forum - ECHO AUTOMOTIVE INC - ECAU   

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From: cardlynn (Rep: 131) reply to kcprintersDate: 01/31/2013 13:17
Forum: ECHO AUTOMOTIVE INC - Msg #49Thread #673497389 (Rec: 0)
$3.61 to $1.45 is about a 60% retrace (very STVF-ish) so I suppose it could be the bottom. However, if you don't catch the very bottom, your bounce upside is only about 30-40%. The way this playing out, it won't be safe to buy until there's a confirmed green day. Hopefully, they are just trying to sucker in longs and make them panic for the push lower.



Re: Man I hope this 1.40-1.50 area isn't the bottom. The steeper the fall, th...



Reply to kcprinters - Msg #81046 - 01/31/2013 12:46

Re: Man I hope this 1.40-1.50 area isn't the bottom. The steeper the fall, the ea...yeah, the chart feels too choppy for this to be the start of a nice big bounce IMH - usually the straight downs respond much nicer. This just creates uncertainty and more scalping. Hell, maybe this was all just a dip for the eventual LEXG $10 pop though??

Unless we get much more fall, I expect I will just sit and watch it. I made good money and this kind of pattern is where I usually give back. I need to break that habit and stay away from what I'm not good at!
What would you like to do? Message: Endorse | Bookmark | Report AbuseUser cardlynn: Reward | Watch | IgnoreECAU: Ignore

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