comments on today's actions:
the big picture:
Message 16750654
NTAP: confirmation of what I said yesterday. We are seeing a breakout. This stock has to be on momentum guesser's radars now:
stockcharts.com[h,a]daclnymy[db][pb50!b200!f][vc60]
3 white candles (=open near the low, make a big move, close near the high).
Took out the November high. This is the 4th (ST) higher high, since the September bottom.
Volume not fading as the stock goes higher.
I have no idea what we do short-term. Frequently, stocks making a breakout will soar briefly (totally unpredictable time-frame), then dip and retest the old resistance (= new support) line, then continue the uptrend. I am selling nothing and buying nothing. Doing nothing is often the most profitable activity. If I was a momentum guesser (as opposed to being an investor), I'd sell on the first down day, and buy on a successful retest of the 200DSMA. I posted a while ago that, looking at the fundamentals, I saw no way, even using the most optimistic assumptions, to justify NTAP over 17. The stock chart doesn't change that. |
