VRSN update

[ChartMan]

The long entry point at 47.60 proved a winner...well for a dollar or so.The top at just over 49 was signalled by negative divergence on CCI and should have signalled time to be out as it fell below 49.00
Going short for the return trip would have yielded another point in the bag.Is this now going to consolidate around 47.5 before testing resistance at 49.00 or support at 46.00? There's no sign of TA uptrends being broken, so maybe a retest of 49.00
Long entry at 48.20, and short at 46.80.......

 

[Riz]

A retest of 49 more likely by the look of it...

Riz

 

[Naz]

I see VRSN got its normal $3 run in the morning EST.For me the key is watching how it behaves on the level 2 between $49 and $50,IF it goes there again.

Reasons;Its tried to go for $50 twice now in the last week and failed.The action was always bwtween $49 and $50.So IF it does try for $50 again,i want to know who's running the stock? who's helping him?,who's selling?.If the ax is running the stock up,is he going to try and fake the move or is the the underlying market so strong or weak that they're more in play.If i decide to swing the stock rather than scalp it i've got decent levels to put my stops.This means that my risk reward ratio is going to be in my favour.Which then means my stops can be small,so if i get it wrong the first time i can try again for another good entry.I'll play it when the odds are in my favour either long or short.I'll let the stock come to me.If i miss the move i wont chase it,i'll move on.

 

[smtm_99]

Hi Naz Did you receive e-mail.

 

[Naz]

No i'm sorry i havent received your e-mail.If you try again and have no luck let me know here and i'll give you another e-mail address.