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Strategies & Market Trends : Three Amigos Stock Thread
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To: JoeinIowa who wrote (28599)5/18/2002 4:03:52 AM
From: Ken W  Read Replies (1) of 29382
 
Joe

BNO on a TA perspective looks to be in trouble. A test of the 4 to 4.20 area is indicated. If that happens then the stock is in danger filling the gap down around 2.50 in time.

I know the FA is good, but if the market has taught us anything it is that the financials are not everything. There needs to be some sort of "exciting" thing going on for the stock to maintain the upward momo.

Of late I've noticed that the trading community has shortened the attention span to about 1 1/2 days. Hopefully, that will change one day, but not in the foreseeable future.

There have been some interesting discussions by the media and elsewhere regarding hedge funds and how they have been affecting the market. The bottom line of the discussions is that most of the volatility of late is due to hedge fund covering and or shorting.

Ken
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