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Friday, July 01, 2005 10:23:56 AM
I've seen it a thousand times before. Good business developments occur behind the scenes while the stock succoms to "normal selling pressure"...usually very little of it. All a headfake as what's really occuring is subtle accumulation...moving the MACD back north to the zero line. When it crosses it, look out!
SWAG: I'm no TA guru or even a well schooled student in TA for that matter, but this is one of those setups that just jumps out at you. Like I said, seen it a thousand times before.
Personally, I believe we could see another month very similar to April and find ourselves planning a Labor Day Vegas Holiday Weekend! It's 30 days over a buck, right? :)
Like I posted yesterday, going by the chart I use (I'll try to get the link to "stick" this time), the MACD shows that over the past two weeks, NEOM became more OVERSOLD (imagine that!) than it has been in THREE YEARS! THAT, my friend, is SERIOUS pressure, IMO. What's that mean to me???
We better put our helmets on because this thing's gonna HIT THE ROOF! :)
http://139.142.147.218/StockChart_ImageOnly.dll?cus=0&co=ask&i_chart=0&inm=5&ind=2&a...
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