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The only thing that GUMM being down yesterday tells me is that GUMM was down yesterday. The stock is now in a short term down trend, but the trend on the weekly and monthly charts are still intact. In the short term, money follows money in both directions but it means absolutely nothing about the long term direction. According to your logic, every stock that was down yesterday, or that has been down for the past few weeks, is doomed to failure and will never turn around. GUMM was also in a short term down trend when it declined from 20 to 12 a couple of months ago. Then came the "I told you so's", "The stock is going DOWN", "The technicals are bearish", "The fundamentals are bearish", etc. The stock eventually turned on a dime and went on to 35. Yesterday means nothing about today, next week, next year, or next decade. |
