Good morning, Jazzbo, I would like to take a moment to enlighten you re: TA (Technical Analysis) not T & A (_ _ _ _ _ & _ _ _ _ _ ), I'll leave it to you to fill in the blanks)
TA doesn't have a thing to do with musky fishing but is does have to do with the stock market. In the market you deal in percentages, return on investment; it doesn't matter if the stock price is $0.24, $2.40, $24.00, $240.00 etc. if the price does to $0.28. $2.80, $28.00, $280.00 etc it is still a 16.666% rise.
And the same hopes, fears, hypes, bashes, fundamentals or lack thereof, potential, good management or bad etc. apply whether the stock is a BB or Berkshire Hathaway (all time high $84,000, last price paid $60,900, a 27.5% decline. I guess Warren Buffet recently caught a case of the stupids, what a lousy manager. Not!)
In regards TSIG, IMHO my Technical Analysis detected a turn in sentiment 2 days ago.
The RSI (Relative Strength Indicator turned up and got over 30.0 (coming out of an oversold condition). And as of yesterday superceded the peak it made on September 11th and is now at 55.4 as of yesterday's close.
The STO (Stochastics), as well, bottomed on September 21st and crossed over the signal line 2 days ago and is currently at 29.2 just a smidgen away from moving out of an oversold condition (break point is 30).
Additionally, the MACD (Moving Average Convergence/Divergence) indicator has turned positive as well.
Finally, the OBV (On Balance Volume) since September 21st has moved up from 8,328,200 to 11,124,500 as of yesterday's close.
Now, will the upward movement in price continue? Nobody knows. Certainly not me, but as long as the bidders keep stepping up and taking all shares that are offered (demand exceeds supply) then the price will probably continue upward. Did you note yesterday when the general market fell from minus 80 Dow Jones Average points to minus 218 points, the bid stayed at .23 and all offerings were absorbed?
What will happen today with the world markets imploding ? Who knows? Quite frankly, I could care less; I'm going musky fishing next week. I'm going to apply my Technical Analysis to my fishing spots and see if I can detect a pattern and once determined I'll apply what I've learned to other spots. Maybe I'll get lucky and get a big fish.
Enjoy your week.
Best, Joe |
