QUOTE(gark @ Nov 28 2014, 10:14 AM)
Added buy queue for both Skpet and Armada.
But not yet match...
Not entered anything yet................ (and as you are aware, I was indeed a fan of this stock for its growth potential)
I drew the chart before... and previously (as suggested by others) there was a line drawn on the sand around 316.

If you minus today's terrible gap down...
you could actually see some volume build up as the stock tried to stage a recovery....a few days ago.
Oil prices kinda stabilized...
and SKPet prices stopped falling...
I even made a comment that perhaps buying then was a much better option than chasing the stock when it was falling.....
Yes, I observed some buying support for the stock too!
Then came yesterday.....
or rather today's gap down....
and you cannot stop wonder about those buyers.....
what if these bottom traders give up those positions they recently took?
Oil outlook just got worst...
or rather many people now suddenly a pro oil BEAR!
LOL!
Yes, a lot of writings are singing the death to oil......
whether they are right or wrong......
I dunno.....
but it looks more and more that this drama would last much longer.....
and judging from the chart...
the chances of a sharp rebound is getting slimmer and slimmer.......
also.... do I know the next level for SKPet from here?
ie what's after 280?
260?
240?
or would we even see 210?
no matter what.....
I like the WAIT option much better.