Some traders just focus on the index charts, I focus on the individual stock charts, and take the index into consideration....IMO, stocks have their own clocks, regardless of sector, I see it all the time in tech...I wagered a guess on AEM and BGO as two that have bottomed, or damned close here. I like to try and buy (or sell) near the apex of the MACD move, many like to buy as it breaks through the zero line...to each his own. Support is not too far off, it held on both stocks today, so it's a low risk play for my style of trading. If support is broken, no big deal, I'm out with minimum loss. It may be a slog to the zero line, but so what...I think price will appreciate during that journey, and then continue past the line....We shall see.
Bert |
