From a charting perspective.... SQI.V is looking pretty beaten up ... level II is deadlocked... and we know the shorts moved in over the first 2 weeks of December albeit it is tax selling as well ( I hate to sound evasive but it is also a fact that many spike ups come from a break just like this), and the break in the 200 day average shows no momentum as in the adx turning up to confirm the break is a run down... YET!
In my opinion when you can't know what is the right answer.... protect yourself. Depending on your position and strategy the opinion I'm presenting may not apply.
In the last update I suggested to think about a strategy if the break was in the wrong direction and I hope you did... still ... If it was me I would go safe until the chart cleans up.. unless your in love and are willing to take the longer speculation... If I consider averaging down.. I go to cash and exit the position and chart the consolidation or down move and then re-enter at a different spot...when the chart suggests a bottom...
You can always re-enter... if the price reverses and moves back up.... you can always re-enter.. this is my opinion and not advice........ ... the lower bollinger has been spiked past and before the day is out... it should come back up to .60ish.......... for an exit ... if your spooked.
GLTA Lostoutwest
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