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MGM Resorts International Message Board

  • shoaloutlook shoaloutlook Feb 12, 2013 11:26 AM Flag

    Why we had a sell-off yesterday

    The only thing I could find was MGM made the list of stocks that have a recent history of a sell-off prior to earnings report.

    What we want to happen today is a repeat of yesterday but closing on the high-end of the day's range. That would set us up for another major move.

    What we don't want to happen, is a close at the lower end of the range. Especially not in the "'Red". We would then have a signal of a possible "Reversal" of the up-trend and not just a consolidation or "Pull Back" within the up-trend. It is an "if'y" Candle Stick pattern.

    We have now cleaned out the over-bought signals which is good.

    Sentiment: Hold

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