The overall market closed below support today. I follow charts which ABC'S chart looks like death while the market was going higher. I would not want to be in this stock because it was showing weakness in a strong market... what do you think will happen if the market sells off to the 200 day moving ave? I know the answer....shake yourself, do you?
I have been short and shorted more abc yesterday @ 53.79 Just think the overall market is going to head down and i have strick rules i trade buy and i feel i would, stay short ABC. But that is what makes a market! EFJI is not all that risky making more money fundamentaals improving and now contracts are flowing in from the US Goverment and as we all know those checks are good! Good Weekend to you, WDIK
Interesting idea, but to risky for my cash...Did you look at the SYM chart? It sure looks like a cash machine! ABC will rock to the upside next week, based on todays trading.Have you picked up on the MM's pattern of knocking ABC down .40-.50 over a 20-30 minute time frame whenever the market thins out? They have played that tune about 8 times in the last 5 days...Talk about predictable! Did you cover that short yet? Shorts will probably get crushed next week on this one.. CU Monday WDIK
Are you suggesting that ABC has ZERO interest at this level? Granted on a T/A basis the chart looks bleak. However, most charts do when you near the bottom...One of my sites has 12 out of 12 indicators saying STRONG SELL, I have found this to be a better entry point than a sell point. Certainly not expecting ABC to jump up today, But the bottom is not far off and ABC won't stay at the low for very long. So a fair chance exists to sell today and only watch ABC sitting above your exit in a few days. I also would not be suprised to see accumulation in ABC today as profits are grabbed and the money flows into SOLID performing undervalued issues ! So the T/A says a retest of 45 looks probable, but we all know stocks never do what everyone expects! .. So my call is whatever dip follows, will be very short lived and those who blink will be very pissed to have not pulled the trigger on the long side! WDIK
I believe that the fundamentals have changed and are going to be seen over the next 2 quarters. I see the chart and it is showing the market will keep taking this down. I feel all the bad news is not out and more yet to come. When are earnings for ABC?