LC(weekly): Same setup? Volume's half way there.
Thursday, May 12, 2011
Blow off setup?
MA(daily): Getting ready for a blow off?
LC(weekly): Same setup? Volume's half way there.
LC(weekly): Same setup? Volume's half way there.
Two consecutive fake buy signals in a row, yesterday was EDC and today in NIKL. Not that they hit my stops already though I still feel I am doing something wrong. Luckily, it's just the "GEO" fund I was using to poke around. I think I'd better stop chasing momentum like a headless chicken now.
Most of the issues right now appear very heavy or this is just the much needed correction? I think I was right on the overly bullish move of DMC yesterday. The momentum of JGS also come to a stop. No stops are hit so no selling yet.
After the huge drop in RFM yesterday, it made a nice recovery today. 5% in a day is nice but looking from its transactions, it appears to have wide spreads so I think I'll pass for the mean time.
What pulled down the market btw?
Most of the issues right now appear very heavy or this is just the much needed correction? I think I was right on the overly bullish move of DMC yesterday. The momentum of JGS also come to a stop. No stops are hit so no selling yet.
After the huge drop in RFM yesterday, it made a nice recovery today. 5% in a day is nice but looking from its transactions, it appears to have wide spreads so I think I'll pass for the mean time.
What pulled down the market btw?