THOUGHTS ON A WILD DAYWhat a crazy wild day today! Today is indicative of a market putting in a bottom. I'm pretty pleased with the recovery, and it puts further weight being my previous thoughts on "an interesting moment" (
CLICK HERE TO READ )
As expected, the resistance at the $29,20iish level is strong, given three converging averages. I'm undecided at the moment whether Bombardier is ready now to break through, or how much to give credit to the overall market. If I had to guess, I would say 50/50, if only because the doom and glloom in the morning was not that effective on Bombardier, and the selling volume was very light. Those are good signs.
While the move up and beyond the "averages wall" may not be today, I do think it is in Bombardier's future in the very near term. Overall, I remain pleased with how the stock is performing, and remain extremely confident in far bigger gains to come.