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Thursday, February 09, 2012

Catching a Falling Knife - IRBT

IRBT's earnings last night stablized around the previous triangle, but something happened this morning and it tanked way down.  Big surprise.  My premarket order of 29.20 was actually green right before the open.  Now it's in big red.

Looks like the 23.60% Fib level stopped the bleeding for now.   Next support would be the projected parallel channel line of 24.50.

I have to remind myself once again not to trade after hours and not to catch a falling knife, even though it is very tempting.

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