Ed, A TREND IS A TREND IS A TREND. Impressively, the great movement of that SVB index. SVB is in retracement mode for two days, news is out for the time being, and "AS GOOD AS IT GETS". Characteristics in the retracement mode in the stock markets are: at least 33.3% retraced from what it just gained, at least 3 days of retracenment, low volume like DML today 90,000 shares, price dripped down. DML just breakout That $2.40 "W" shape with significant large volume near 500,000 shares and hit new hi of that $2.65 before retracement took place, DML this rally or swing from $2.05 to $2.65, a 60 cents swing, 1/3 of this swing is 20 cents so DML has to at least retrace to that $2.45=$2.65-.20, a minimum of 3 days, today is 2nd day. May be one more day i.e. tomorrow, the bull will charge up again, this time I will see volume increase to 750,000 to 1,000,000 with prices increases and break new hi to that $2.85 and then 2,000,000 shares a day to $4.30 when drill rigs are on sites. $10.85 or higher if drilling results prove great could be $28.00.
Both CWA and MGD followed that SVB's retracement reaction, but watch their breakout with very rapid price increases just like the others in SVB index.
Again, this just my thoughts, not any methods or system of forecast in the stock market is infallible. By the way Thanks for the SVB Index. |
