... from mid 2000 until today. Look for that multi-year bullish trend to continue from here. Look at what banking stocks did from 1991 - rallied for 8 years or more. BZH and the homebuilders are only in the 3rd inning of their big, multi-year move up from the 2000 lows. Even the Rally Monkey is now jumping for BZH. Never doubt the power of the Rally Monkey!
Thanks so much for the instructions, I will be back tonite to try it for the first time!!! Actually what I did there may have no validity at all really. It's best to be consistent and not take out a tail, but I will try to get the chart to you tonite. Even tho I daytrade I am always trying to read the charts as though I was swing trading to see where I think support or resistance will be, etc. I do see that 48 area in same way. That's where I really thought it would come in the last time we were tanking. Perhaps now is the time. I will get back to you later tonite, thanks a million for the link instuction, been on here for a few years, believe it or not I never did it!
SHORTY SEZ: First, good friend Alex becomes a chartist. Now he's a zoologist.
SHORTY SEZ: If we close below the midpoint of the range today, look out below!
If we are closing weakly, and near unchanged, Shorts should double up overnight. That will be a sign, writ large, that the end is near! Perhaps it is premature to mention that possibility, but if it develops...
<<<SHORTY SEZ: If we close below the midpoint of the range today, look out below!
If we are closing weakly, and near unchanged, Shorts should double up overnight.
That will be a sign, writ large, that the end is near! Perhaps it is premature to mention
that possibility, but if it develops... >>>
That was written with the stock at 60.33. In view of the fact that we were closing weakly, I did add another 1000 sh to my pile (brings me to 4500 I think). 58.94 at 3:58ish.
SHORTY SEZ: I'm sitting on my cushion (of paper profits), fat, dumb, and happy. I have been wrong before, on this stock and others, but this looked opportune to me earlier in the day... and when the scenario begins to unfold on schedule...
I'm calling today a doji. And I'm thinking it's another pausing doji. The fact that we closed in the lower half of the range, and gained only
.30 points to further weakness, IMO. A lot of the hot-dog day traders like to pick up a point or two, and call it a day. A differing strategy is to compound your gains, building positions as you are proved right. We shall see. I'm looking forward to our next PE update. If we close at the top half of the range tomorrow, today's doji will have reversal implications; failing that, I must assume that I am correct and it is only another pause in the downtrend.
My ST target remains in the 51s. If we get an above-mid close tomorrow, I'll probably cover part or all.
SHORTY SEZS: If you build a cushion, you should try to sit on it.
<<SHORTY SEZ: First, good friend Alex becomes a chartist. Now he's a zoologist.>>
And, it must feel like he's the subject of a proctologist right about now. Hoo law, down from 92, just like Ma and Pa Kettle.
You better quit stroking that rally monkey, quit flogging that rally dolphin, things ain't looking good here.
Btw, IBD yesterday had rankings for Buildings--Residential:
6 months ago the sector was #2 out of 197 industry groups.
Yesterday it was #125 (last week it was #117).
Can anyone spot a trend?