Re: Bought CD
- From: "Awaken21" <lukecarlos@xxxxxxxxx>
- Date: 13 Dec 2005 10:16:41 -0800
MO:
Your instincts on the sector are good, the sector is...lackluster. Your
timing is also good, this stock is in a bottoming area.
The problem is, about 80% of the territory for this stock is in the
distribution zone (Between/Under the Zero lines on the MACD and PPO).
Probably this condition is sector wide, although I haven't checked. In
this case, the price action is confirming, this stock spends most of
it's time trying to find new bottoms. I've found that to be one of
stronger signs of weakness that a stock or index can display.
I've seen other picks in your posts that have far more bulls in their
corner.
-Luke
A Break Out Trader's Notebook - Real Time charts
Detailed coverage of Markets - Sectors - Stocks - and ETFs
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID1182672
Jerry wrote:
> It's down over 10% due to a minor earnings warning. It's not my favorite
> sector. However, they are breaking it up into 3 companies next year. I
> think the parts are greater than the whole. Therefore, it's a bottom fish
> play for long term.
>
> --
> Jerry
.
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