Something is Better Than Nothing
By TheWild1 at 31 May, 2008, 12:01 am, Categories : Financial Markets
Another week has passed us by, so why not see what happened with the stocks I shared this week. I wasn’t too thrilled with the movement within the markets, although we may be in store for a quick rally to the upside (according to the Industrial Average), barring a break through the 50 day moving average (orange line).
Take a quick gander (the charts show the same drawings, but with the extra days after).
May 25, 2008 - RIO, CAT, and HAL
They got the job done; however, seemed to lack spark.
May 27, 2008 - AAPL
This thing is going so much higher.
Conclusion
So 3 rises and 1 that didn’t hit buy point. Although it wasn’t much, anything is better than losing; however, I still feel a strong movement in the near future.
With a lot of bears on the prowl, lets hope they get scared and try to cover some losses on shorts. Plus low expectations are always nice.
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Does the moving average not give you worry that the Dow can’t pass over yet? Looks like it was a floor and then a ceiling.
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Yeah that is a concern, but, with my bullish view, I am just hoping it will push the average to the side.
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