David - you are trading on a shorter time chart, than I do. The 1 min chart was indicating overbought, but the 15 min chart was getting to the buy signal. With 15 min bars, however, the sucker (MU) moved a bunch before that next bar and the signal was given.
Additionally, the 10 day, 6 day stochastic setting that I use on the TC2000 daily charts, also gave a buy signal yesterday. Over the past 11 years, and excluding the summer months, it has given 46 buy signals, and 40 have gone up an average of 15.8% within 15 trading days.
Summary - I am biased on the down side longer term, with MU in downward channel, however, I now expect that bounce for the coming few days or week. Just my opinion, and I sure have been wrong lately.
Patrick |
