TGC completed its correction today in my opinion with a sell of to $2.00!! This is why we watch these high flying stocks, because whether or not this is going to $5, $10 or $20 long term in order for it to have a healthy move there it needs to pull back after each large move to the upside. All we are doing is taking advantage of that. I’d watch for the sell of some more this afternoon and it may end up proving to be a great bounce. I’d watch for consolidation/support around $2.15-2.20. If it stays below it I’d be cautious and watch for any major sell offs to create a “bounce” position.

Tags: TGC

This entry was posted on Thursday, July 3rd, 2008 at 9:46 am and is filed under Recaps. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.