Replies to post #1789 on Entremed (ENMD)

[SyndicateMM]

Galt:





I hope that it really is accumlation going on. The i-watch does look quite clear right here. (However, as a caveat, I have never been able to develop any reliable way to use the darn thing in real life...) My previous TA suggested that a very short term top was in place, and now, in fact, we have retreated to some fairly important levels of support. The 50 dma is pretty obvious in the charts above. In my own work, some important linear regression levels coincide with that basic area as well as some other custom averages. It isn't surprising to see a bounce. As usual, the character of the volume will guide us to the likely resolution of the pullback. Today, thusfar, has offered no clues other than more of a dry up in sellers, IMO. No damage, other than in the very short-term, has been done to the chart at this point.



I believe the next step in the adventure will be challenging and robust. As such, a pause of some length, before such an assault is to be expected. I can't help but believe that the underlying message in today's hiring is very positive. But, then again, I'm a glass half full kinda guy...

Caveat emptor!
Best Regards,
Syndi