Puda Coal Inc (PUDA)

[tatrader11]

"thanks, that's my signal, buying below $7.20 today"

Well as we see PUDA sliced thru 6.50 and HEAVY selling triggered as expected just like when $7.00 gave out. Now we will check the $6.00 level and one must keep in mind 2 things.

#1 we have a falling knife going on and those can be deadly
#2 It is due to bounce, problem is the trend short term is down.

We have entered oversold but both stochastics down hard, this is not a time to buy. Those that bought PUDA recently who have held to now likely will be looking to sell into rallies. Watch the volume on any rallies, if volume weak expect further weakness.

With the markets doing what they are doing this is not time to be long, in fact any long term investers need to burn one thing into thier mind right now, SELL ALL RALLIES