good examples....briefly, half the issues with these patterns the last several years, have held aroud their 200 DMA's, and broken out/up again, the current pattern being (on hindsight) 1/2 way trading ranges, L.T., (just a vaguary of the L.T. bull market, dig ?)
and half these issues with these patterns, have fallen nicely from nice umbrellas....it helps to also see how many other issues in their industry groups, look the same at that time, right ? FYI, I am watching both of these, which is why we diversify, etc.
the key, when/if they decline, is whether they break their support, which, with XL, would be below the 56. area, soon, and on ALCD, around the 50. area....for the record, I did give ALCD out formally already, around 64 -ish....but not XL, yet....and these are both in decent potential declining ind. groups, though....
and, last, of course, we have found fewer great umbrellas,
as I have said on this thread, in recent months, because most recent "top formations" have been shorter-term in duration....rare, historically....and frustrating....in Puts, one would have lost more than won in the Financial issues, Drugs, but won bigger in Energies/Services, and many Techs, Consumer, on the downside....
again, we never expect nor demand "overnite" riches, nor perfection, but many people do....
hope this helps, till next time, do well...you are above avg., in even recognizing these 2 types of stocks.....good going....
for education sake, check out shorter-term pot. "PSYCLE sm" tops, in ACCC, WFMI., GE, NA, SEBL, perhaps....still rough here....
last, as I recently have been saying, the Long side has been a better place to be, at least lately....will change eventually.... |
