Nice picks ye say Laddie? Aye, they may be.
KEG hit a support level and bounced nicely I see. Me only problem is the long wick on the candle. It's the kind of wick ye light for the poor soul ye know is goin' straight to hell, but ye hope the good Lord will show some mercy.
The lack of overhead supply in the price range up to 9.50 suggests we still have some skittish people out there, as it wasn't overhead supply that pushed the price back.
HOFF looked encouraging as well. I was waiting on more volume to show up but, alas my wait was futile.
RRI is still disappointing. I agree with your analysis posted to me earlier today, er yesterday.
KEG and HOFF may have been good entry points. I'm not sure about RRI yet. I'm sticking with waiting on a resistance level or two to be breached.
The overall market is breaking down. I don't have any long positions in my trading account. Only shorts. Looking to add more too, if the S&P can't rise back up above 970 and stay there.
If the market continues to break down, a lot of people don't like shorting so they will look elsewhere for long positions. Since the XNG and OSX have already been beat up by my Uncle Bruno, they will provide one of the better opportunities to outperform the market over the next few months.
A very nice indicator to measure strength versus the market or a sector is the Price Relative indicator. In using KEG as an example, you can see how it has underperformed the market and is now turning up. Not because KEG is doing anything, it's that the market is doing worse. <lol>
I prefer to wait for the indicator to turn bullish, to show some strength first, but I know some bottom fishers can use it to their advantage.
In any event, you can change the indicator to $OSX, $XNG or any other index, or stock, for that matter.
Yer brother,
dabum |
