Post by
bullchart on Nov 11, 2015 8:31am
One of these trading days
We saw "one of these days" when they took a 118.00 stock down to 25.04 in exactly 30 trading days.
14 trading days later and we are still fooling around in the high 30.00 range.
There is little question in my mind, based on technicals and fundamentals, that this and others in this sector, will have " one of these days" to the upside. Not sure when but that is of little concern with a long position. As long as I have a " sleep well" position, I will get to take advantage of a surprise 10-20-30% move some morning at open or during the day based on a halt or sudden move at the open. The longer this festers in a tight range, the harder this will blow when it is ready.
The move out of this tight area will be the start, not the finish. Greed was 40 to 110 with the year low uptrend breaking in Aug. Fear was 118.00 to 25.00 in 30 days and not taking advantage of this bottom consoladation.