Post by
fergus2 on Dec 01, 2020 2:06pm
Re the doji
In the previous downdraft that carried GSI to .62 everything was right for the doji to form except that the close was not above the previous day's close.
Now today again, there is also the possiblility of a doji formation -if it is able to close above yesterdays close. The volume is enormous, the retracement to new low ground has happened, we just need the close above yesterday's close. These formations aren't contived or manipulated, they just happen. But it is a very powerful forcasting tool with chartists.
I offer no opinion one way ot the other as to how things will end up today. However we should at least keep the possibility in mind.
Comment by
ol_griz on Dec 01, 2020 2:11pm
Selling has dried up and some strong buys in the last few minutes. Here's hoping for further improvement prior to close - not holding my breath for .63!
Comment by
fergus2 on Dec 01, 2020 2:22pm
Well ol_griz, it's the strong buying that might take us there. And yes, .63 is quite a pole vault. But if it happens you must treat it as a sign of great strength. And if it doesn't, it's just another fizzle.
Comment by
fergus2 on Dec 01, 2020 2:32pm
But it's the people that bought in that zone of retracement into new low ground .61-.53 they make the difference. If they can soak up the selling til it dries up,- that's what gives the strength to this chart formation.
Comment by
robert41 on Dec 01, 2020 3:00pm
im one of them bought more today and yesterday...they say buy when it hurts and blood in streets trying to get average in the .60"s.. sometime you just need to take a bit of an educated guess other than this cluster f of a financing the co is solid....hope the bleeding is done today time will tell