TA:
Closed above the 200DSMA today, for the first time in this bear market. Even if we slide back below that line now, this is very bullish:
stockcharts.com[w,a]dahlnimy[db][pb50!b200!f][vc60]
I have been noticing a lot of stocks, which have stalled at a declining trendline or moving average, throughout this entire bear market, and are now breaking above those lines.
Frankly, FA makes me ambivalent, "of two minds". Valuations and 12M forward earnings estimates and debt levels everywhere make me bearish. Interest rates, fiscal stimulus, a possible inflection point in commodity prices, many tech companies saying sales have bottomed, these make me bullish. So, for now, I'm going with the TA, which is giving a fairly clear picture.
If we hold above the 200DSMA, I will not set any sell prices on my NTAP LEAPs, I'll just hold all. If we fail here, I'll probably sell my 2003s in increments early next year, the next time we bump up to that line. |
