Thursday, March 05, 2009 5:55:34 PM
To be clear, I agree with those who question the value of TA with thinly-traded, low capitalized stocks like COR. It works best on market averages, heavily-traded EFTs and large caps. That said, when I see action like we did today with COR, with heavy selling during the first half of the day, followed by recovery on equal volume the second half I am encouraged. There are as many investors and traders who believe there is an upside to share price as there are those who see only downside movement. The flush-out is healthy and more positive than negative, IMO. I am less inclined to worry about where the stock closes than the fact that buyers came in during the afternoon hours and bought COR.
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