'Sup, Dog?
"The race may not always be to the swift nor the victory to the strong, but that's how you bet"
Damon Runyon
(As even the lightest weight Bible scholar knows, this is the technical analysis reworking of Ecclesiastes: ". . . that the race is not to the swift, nor the battle to the strong, neither yet bread to the wise, nor yet riches to men of understanding, nor yet favor to men of skill; but time and chance happen to them all.")
TOL puts you ask?
There are many ways to examine moving averages and price action. Rules of thumb (20 and 40, 50 and 200, 27 and 89) hold true often enough and fail often enough to make you wary. However, on the concept of shorting or buying puts on any very strong stock, I would side with the Prophet Damon over the Prophet Solomon.
Looking through a variety of moving averages and reducing them to two (as per public stockcharts charts), I come to the 15 and the 50 as perfectly fine indicators of trend and support. Further support for the trend comes from ADX lines, )green above red and the macd.
stockcharts.com[h,a]dacayiay[pc15!c50!f][vc60][iut!Ll14!Lah12,26,9]&pref=G
As you know, people have been calling the top in the homeboys for at least 3 years, only the nimble and lucky have made money with that call, whereas those buying retracements to significant moving averages have made easy money. I personally prefer easy money to all other kinds and denominations.
Kb |
