Posts
Becoming Solution-Focused in Our Trading
1 week ago
Thursday, July 2, 2009
Today we had a weak market. Does that mean that all stocks were as weak as the market? Or for that matter, were all stocks even weak today?
Two examples of stocks that were relatively strong (and in fact strong in general) were MOS and POT. If you look at the graphs below, you will see that although the stocks opened down on the day, they quickly reversed and extended up throughout most of the day, even as the market was continuing to sell off.
If you look more closely at the MOS 5 minute chart you will further see that the stock was gaining on high volume, and its initial pullbacks were on lighter volume. This is another clue that the stock was strong today and an "in play" candidate as a long.
Two examples of stocks that were relatively strong (and in fact strong in general) were MOS and POT. If you look at the graphs below, you will see that although the stocks opened down on the day, they quickly reversed and extended up throughout most of the day, even as the market was continuing to sell off.
If you look more closely at the MOS 5 minute chart you will further see that the stock was gaining on high volume, and its initial pullbacks were on lighter volume. This is another clue that the stock was strong today and an "in play" candidate as a long.
blog comments powered by Disqus
