Everyone bounces off their 200 day once. So let it be with these.
CVS cleared for take off - divergence from 50 day, 200 day. Will take a couple of years to catch up. Happy harvesting!
Saturday, July 29, 2006
Thursday, July 27, 2006
Dow cleared, Nasdaq - sorry, you'll have to wait
Did you see that, the Dow did not make a lower low. Whereas, the Nasdaq has been consistently making lower lows. Watch the banks offering higher and higher rates of interest. It's not as crazy as at the time of the bubble, but I think the market is telling us that tech is not hot and won't be hot for a while, whereas, defensive stocks - KR, MO, CVS are the ones to donate to.
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