The warning sign that I worried about here has indeed materialized, as shares in Google (GOOG) tumbled 5% to near its 20 day moving average on what most consider the good news of beating its earnings estimates. This may turn out to be a garden variety “buy the rumor, sell the news” reaction, but it [...]
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After another up day — six in a row — check out the RSI (2) way up there at 98.75. Looks like I will be bearish for at least another day! Maybe, eventually, it will be rewarded. . . . Its been a month since I looked at Potash Corp. of somewhere up in Canada, and I got a chart request on it, so it is certainly time for an update. On March 12th, I asked if the gap up at the open might portend the formation of a nice and profitable bullish cup-with-handle setup: [...] I am headed off to St. Petersburg and won’t be back until late Monday, so my next update will be early Tuesday morning. Have a great weekend! |
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