Michelle B submits: On Tuesday, April 24, approaching 2 PM, the time of the day that I regard as the Period Of Treachery—fondly referred to as POT—I noted MNST screaming red on the low ticker. I checked to see if there was news to explain the decline, and there was none. I quickly called up [...]
Posted by 28 June 2005
Morning Star on the Nasdaq
Posted by 13 May 2004
If it Looks Like a Bottom, and Feels Like a Bottom…
Yesterday’s action has everybody screaming ‘bottom’. As many of you know, I’m always looking for the day that feels like death all through the morning and has a furious rally late in the day as a mark of a believable bottom. Well that exactly what we got yesterday. In addition, the lows from Monday were [...]
Posted by 12 May 2004
More Bullish Candles
Just like on Monday, there were a ton of bullish candlestick patterns made yesterday. This time there were a lot of harami and bullish engulfing patterns, and even a few morning stars. Yet, the prevailing trend on the vast majority of those stocks is still down. So I think it’s still wise to leave those [...]
Posted by 11 May 2004
Stop… Hammer Time!??
We certainly had some interesting action yesterday. The S&P 500 bounced just a couple of points above its 200 day moving average, while the Dow sliced through its 200 DMA (currently at 10,006) and the 10,000 level. It gave a good effort to bounce back above both levels but didn’t quite make it. I was [...]
