Well folks charts are still bearish on BB&T. This stock still can't make up its mind as to where it wants to go. AH has BBT @ 17.83 @ 5:23 PM EST. I guess after a great big run up, you can expect it to fall even harder to 14.00 in the next few days.
Sorry, couldn't let this one go. This was from the offical BBT message board chart specialist (Francis). Follow his advice and lose 6 points in a week. Just a reminder guys, don't come here for trading advice. Do your own DD.
Technical analysis works because price and volume often reveal the collective psychology (the “fear/greed balance”) of a market's participants. The reason technical analysis has value is that directional price moves are often sustained for a period of time allowing people to detect and profit from the change in price. In this case it suggests that a reasonable person whether long-term bullish or bearish would stand aside until all the crap regardless if it's right or wrong runs it's course.
I guess gut feelings and sentiment may help. But I have been getting killed in the market over and over because of good vibes. I had good vibes when Obama was getting elected. But then the stock market dropped like a rock on inaguration day. Mr. Market hasn't dropped like that on inauguration day in 112 years. What is the market telling us?? All I can say is look out below!! Dow 6000 coming up!!
I gave you all the reasons the chart was "bullish" and not "bearish" in question form. If you knew anything about reading charts you would have know that.
You have been exposed as totally ignorant about reading charts.
And oh - BTW - while you are at it could you give us a cycle analysis of BBT, the ^BIX and SKF. It would be nice to know where BBT is relative to the S&P Bank index and the 2x financial inverse ETF.
And just one other thing - could you provide is with an EW read on BBT.
TIA - all this will be most helpful in deciding whether to hold or sell BBT.
PS - just one more itty bitty thing - could you tell us what O/Geitner is going to say Tue night and Wed about the banks.
You are a swell person to provide us all this info. Once I get your answers on all these things I will sing your praises across the Net.
O Great chart guru I like to understand what I am looking at so please enlighten us.
Friday was a white candle. Is that good or bad? Why?
Vol was a green bar Friday. Is that good or bad? Why?
MACD is at the same approximate level where it bounced th last time. Is that good or bad? Why?
RSI is at the same approximate level where it was the last time we bounced. Is that good or bad? Why?
Slo-Sto is about where it was the last time we bounced. Is that good or bad? Why?
We bow at your feet most holy chart reader awaiting you words of wisdom and interpretation of all these mysteries.