On the hourly it actually closed above the 20-hour MA, last hour. Hasn't done that since the recent downtrend started.
It is acting pretty strong today....good chance it wants to tag the HOD.....you can always just put your toe in the water and use a tight stop.....or just wait for your perfect setup.....sorry not much help is it.
AKS and X are holding their high ground. WLT acting like it wants to test its HOD....twood be sweet to close on the highs.
I think the market is only open 1/2 day on Friday....should be an up-market day. Then it will be December....another year almost gone.
The point being is all we can do it seems, is to time entry and exit as best we can and hope for the best.
My manner of life from my youth, which was at the first among mine own nation at Jerusalem, know all the Jews: which knew me from the beginning, if they would testify, that after the most straightest sect of our religion I lived a Pharisee. Unto which promise our twelve tribes, instantly serving God day and night, hope to come. For which hope's sake, king Agrippa, I am accused of the Jews.
Why should it be thought a thing incredible with you, that God should raise the dead? I verily thought with myself, that I ought to do many things contrary to the name of Jesus of Nazareth. Which thing I also did in Jerusalem: and many of the saints did I shut up in prison, having received authority from the chief of priests: and when they were put to death, I gave my voice against them. And I punished them oft in every synagogue, and compelled them to blaspheme; and being exceedingly mad against them, I persecuted them even unto strange cities.
Whereupon as I went to Damascus with authority and commission from the chief priests, at midday, O king, I saw in the way a light from heaven, above the brightness of the sun, shining round about me and them which journeyed with me. And when we were all fallen to the earth, I heard a voice speaking unto me, and saying in the Hebrew tongue, "Saul, Saul, why persecutest thou me? it is hard for thee to kick against the pricks."
And I said, Who art though, Lord? And he said, "I am Jesus whom thou persecutest. But rise, and stand upon thy feet: for I have appeared unto thee for this purpose, to make thee a minister and a witness both of these things which thou hast seen, and of those things in the which I will appear unto thee; Delivering thee from the people, and from the Gentiles, unto whom now I sen thee, to open their eyes, and to turn them from darkness to light, and from the power of Satan unto God, that they may receive forgiveness of sins, and inheritance among them which are sanctified by faith that is in me."
It's always about hope, isn't it?
"Now faith is the substance of things hoped for, the evidence of things not seen." -----Paul of Tarsus
X is up about 2% mid-day going for the top of its range.
AKS broke out of its trading range, up as much as 3.7% so far.
NUE was the one downgraded and is trading lower but on low volume and testing its 50.
Wednesday, Nov 27th, 11:15 EST.....appears that yesterday was probably stopping action printing a low just short of a 61.8% retracement between the 9.96 low and the 19.50 high. This morning, a nice short covering rally punctuated the opening 30 minutes setting a higher range for the day's trading. Weekly volume will be light setting the stage for a possible AB=CD-up with A=9.96, B=19.50, C= 13.67 and D = $23.21.
The big money does not sell at bottoms. You are looking at volumes intraday. Step back and look at the bigger picture...daily and weekly...just the opposite of your supposition.
So......when what you expect doesn't happen....expect the opposite. If this closes above midrange with a long tailbar this far away from the 20 DMA it could get away from you real quick.
You still here? Take your bread. Don't let a winning short turn into a loser.
Rurk I thought this would bounce in the mid 15's but dang the bunge cord is really stretched now. Gotta think that looking for the long trades is more prudent now.