Tuesday, June 10, 2008
Normal Correction
The pull back keeps bouncing off the 50% fib-retracement level. This would seem to be a normal correction for the market after a strong run since mid-March. Here's a link to the DAILY CHART. If 1350 should hold and the market can make it's way to a close above the 65 day moving average, I think a strong rally could lie ahead. There's so much pessimism that I'm starting to think about the surprise side of this trade.
Comments:
<< Home
I kind of agree with you, having watched the market for a few days. Most of my tracked stocks have now closed in on their logical bottoms. I'm sure that this is visible for TA. I got your request and gave you access to my site. Hope you have a chance to download and use the spreadsheets.
thanks, I'll spend some more time checking out your folders. By the way in case you forgot, the new garp scan is the same old scan. The stocks are now ranked in order of price/sales. Look for low debt ratio stocks in the top half of the list and watch the charts for breakouts.
You haven't modified yet? Are you planning on any changes? Hm, price to sales. That's something I normally don't focus to heavily on, but I'll keep it in mind when I look at the scan results. Thanks.
I know we punched through the 1350 today, but this has got to be an abnormal day, as financial news worldwide was one-sidedly bad today.
Post a Comment
Subscribe to Post Comments [Atom]
<< Home
Subscribe to Posts [Atom]
Subscribe in a reader
