Could be......or maybe just random movement within trading range. If we bounce here, we have a nice double bottom with the April bottom. The double top in May defines the top of the range, giving a broad 12-27 range for traders. Selling covered calls against a LT long position, at 27, is another decent strategy. I doubt we get above that resistance line, till next year. OTOH, if we go on to new lows, then it's anyone's guess where the bottom is.
Fortunately, no one is going to fire me if my portfolio underperforms this quarter, and no one is going to insist I only hold stocks on June 30 that have gone up in the last 90 days, so I'm happy to have those fund managers sell to me. If you're right, we'll get a bounce next month.
Another possibility is: NTAP is going to warn again, and someone found out about it early. |
