Long $REED Day 6

Today was a good call from yesterday’s game plan. I didn’t really call for much, but I did expect a bad open due to yesterday’s close, and that is what happened. It was at it’s low of the day in the first 30 minutes of trading. I also said I thought there was wholesale participation in the $2.30 range two weeks ago due to the enormous volume and that they would participate again at those levels. While today was more active than yesterday, I don’t think it was wholesale participation.

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Long REED Day 4

I was right about the volume increasing, but dead wrong about the price following it. Today did some damage as it closed down over 7%. It was just an ugly day, but on the weekly it hasn’t broken support and I have to believe there was wholesale buying in this area two weeks ago with all that volume. So much so, that I actually added to my position on the dip.

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