KB:
Forget the fundamentals! They cloud a man of vision, they create a bias which prevents one from taking advantage of opportunity.
JNPR may not give a reversal sign here, and that's OK. I'm merely pointing out that this is the range where one would show itself if it were so inclined.
The telecom sector was overvalued, the big boys need to knock it down a little. At the same time they need to create a little fear in the general investing public. At some point they will be buying back, the risk vs. reward ratio will be too enticing not to take the risk.
Junk has value. That value has a tendency to display itself around points of resistance. JNPR is getting close to that point of resistance. If the reversal signal shows and confirms, it would be foolish not to take advantage of it.
Trade what you see, not what you think!
If the sign shows up I'm not going to let fundamental bias stand in the way of a profit.
I see a sloping head and shoulder reversal pattern on the weekly. Just give me that confirmation, that's all I ask. To the moon baby, to the moon.
Well, not exactly the moon, but a double digit gain in a short period of time will suffice. If the indicators stay nice to me, I'll hold longer, but I must have that confirmation.
dabum |
