it depends on the market, I'm impressed with the market and how it's holding together, you have many stock making news highs, at least the ones that matter to me, and stocks that have based that are starting new bull runs. Breadth seems to be improving, so my take the last few weeks on NTAP could be all wrong. I never let my ego get in the way when comes to the market, I try to let the market talk to me. Now do I feel NTAP is starting to act as good as say JNPR, SCMR, EMC, NT, BRCD, SUNW etc etc, no. One can take one look at the chart and it's easy to see that the votes are in, and they need time to tally them. so sideways for NTAP with no large drop.
To see a beautiful break-out look at EMLX stockcharts.com[L,A]DACLYYMY[PB50!B200!D20,2][VC60][IUH14,3,3!LK14!LL14]
notice the bounce on higher vol, then the very tight with upward bias consolidation with more up vol then down vol as it consolidated after the bounce with the breakout from the base happening yesterday and today confirming it. I bought it today twice. The tight consolidation said to me that the bounce, on news mind you, was real and the current holders were holding tight.
Greg |
