Here comes the Volume to support breakout- up we go!
We have been waiting for the volume to support the breakout conviction that I have apprehensive of. Well. here comes the volume today it was twice the daily average and saw strong demand in the last hour. Either some material news is coming (like dividend) or some funds decided to load up at the breakout. See y'all higher soon.
Up next, higher price and short squeeze followed by even higher price.
Yep! Saw the volume yesterday and agree it is a sign of things to come. Court sympathy with Einhorn in Apple case will prompt companies to be fair in handing out dividends. Textron has .08% now vs. a historic 0.4% to 0.6% in normal times. So there is 5 to 8 times dividend growth potential as things better.
Shorts are giving it a fair fight though and a hedge fund pushes the price down early on every trading day by dumping 70 to 80 thousand shares and keep Textron from massive breakout. Sooner or later, they will be squeezed and we will go to $38 range.
Guys, I am out- lock, stock and barrel because the market is breaking down and TXT is being manipulated. I didn't want to stare it go down and got out- sold all 10000 shares at 28.51-28.56. Good luck to all of you that are stronger in the gut than I am. Best!