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Theragenics Corp. Message Board

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  • Mosesnoses,
    I see a totally different picture
    from the chart you refer to. While TGX has made a nice
    bear market rally from around 9 to around 16, volume
    for the last 15 consecutive trading days has been
    less than half of the average daily volume. This tells
    me it's a half-hearted rally at best, probably
    fueled by some short covering, but it doesn't appear
    that much if any "smart money" is participating. Also,
    stochastics are showing oversold and look ready to turn down
    soon. Plus, that spike bottom of mid-August is just
    begging to be retested. Barring any positive surprises, I
    expect to see 9 again fairly soon.
    As further
    ammunition for the bearish case, two proprietary indicators
    from my Worden Brothers TC2000 technical analysis
    software are very bearish. Moneystream(tm) absolutely
    plummeted in July, meaning money was flowing out of the
    stock. Balance of Power(tm) turned negative for the
    first time in more than 2 years about 3 weeks ago. This
    means that systematic selling has begun, vs. systematic
    buying. When both of these are negative, it often means
    the stock will be under pressure for some
    time.

    I know TA is as much an art it is a science. That's
    what makes it interesting. Kind of like having 2
    people look at an inkblot and seeing different things.
    Good luck trading.

    ChiTrader

 

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