Despite a long list of "fundamentals" given in the backlink, the recent action viewed at the Daily scale requires the prudent gambler to exercise great caution over the short term because when the herd is moving in a direction, fundamentals go out the window for long periods of time.
Inability to break out of the top rail shown below is going to result in a DDT which will change the primary short term count to that in red below. In other words, the blue secondary chart from the backlink becomes primary.
The lesson here is simple: don't fall in love with a stock. The chart is everything, fundamentals, especially for the short term, are unknown and unknowable. And even if they are known, a panicking herd doesn't listen to reason.
On the other hand, a break out of that top rail is very, very bullish.
Thursday, November 26, 2015
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