BBH (biotech sector) making new 52 week highs today!
You know you are holding the "weakest of the weak" stock when the sector it is in is making new 52 week highs but the stock sits near its 52 week lows. This is what we refer to as "negative divergence" in the most bearish of senses. Smart money remains short here.
How many techers will give a kid an "A", if he lags behind the average of class so bad? It's only against average. If we choose to compare with its competitor. It's another story.
Blind adherence to rigid thoughts do not bring glory, Nomad ! The shares are relatively much stronger to-day than the last two days, meaning the situation is not as dire as it was presumed yesterday. You have been right so far; but, not necessarily so in the coming months. A balloon pops when the air pressure rises beyond its limit!!
VOLUME tells it all. EXEL has had too many small intraday "dead cat bounces" to count in recent months. Tons of overhead resistance that EXEL will not be able to get through. In other words, don;t get too excited as all the others here do every time EXEL puts in a small, LOW VOLUME, intraday dead cat bounce. Great shorting pop's as long as trend remains bearish. No emotions. Purely OBJECTIVE. GL!