THROUGH THE WIRE
I've had a lot of questions about PXLW over the past few days. Undoubtedly, it comes as a result of the persistent pullback, which has seen me give back a substantial amount of my profit since initiating the position in late July/early August.
Before getting to my opinion on PXLW, let me state the following: I will never sell a position and not update it on this website. I am not a flamboyant charlatan who has an obsession with being 100% right 100% of the time. If I lose on the trade, I will discuss it here and post the loss. If I win, I will discuss it probably more than I do the loser and post the gain. You will never suddenly not hear about a position for a month, followed by a proclamation that I sold the position without disclosure. That is a game I don't play.
It just so happens that I have been right a lot in 2012...and substantially so. I have still lost, however. I lost on CIS, YELP and GSIG to name a few. All of those trades were posted and discussed, as they always will be.
As far as PXLW goes nothing has changed at the company fundamentally as far as I know. The only aspect to cover then is the price action. It just so happens that I have studied literally hundreds of thousands, if not over a million charts in my now 18 year career. With that said, my opinion on the price action should give you some comfort.
To give you a cliff notes preview: Nothing at all has changed. The price action, pullback, volume and anything else pertaining to structure all remain bullish. My position remains a large one.
Here is the study:
PXLW
