Great analogy!!!
On another note, as I have posted to another thread, & have indicated my concerns here, in a word --- VOLUME--- where the heck is it?
I realize that it is summer, but, according to one of the many Guru's that I follow....( amazon.com volume is a concern. "A new low in OBV (on balance volume), shows that Bears are powerful, bulls are hurting, and prices are likely to fall. When the prices of OBV deviates from the pattern of prices, it shows that mass emotions are not in gear with mass consensus....& This is why changes in volume often precede changes in price." From Trading for a Living pg. 173. Author: Dr. Alexander Elder, ISBN# 0-471-59224-2
published 1992
Look closely @ the CSCO chart, esp the OBV & compare with price action.
stockcharts.com[w,a]dicayymy[dc][pc5!c21!c50!c200!h.02,.20!f][vc60][iut!Ul14!Lg!La12,26,9!Lh14,3!Lb14]
Draw your own conclusions...
FWIW,
Peter |
