Another service I have on trial right now (fairly high profile)
is recommending buying MON if it pulls back to the 50ma. I
will be closing my short, methinks, on any such dip.
MON already hit the 50 MA which was the initial target (measured
move out of the small wedge). The group was strong today (see MOS,
AGU, POT) and something to watch when trading a stock in a sector.
MON has consolidated allowing its 50 day MA to catch up to price
and could be morphing into a triangle with another probe higher
should it continue to hold above it's 50 MA. Remember what you've
been taught about symmetry and volume patterns and the importance
of price in relationship to all the MA's including the 50 day
MA.
MON - maybe a buy, not a short
Posted by frtaylor on 5th of Sep 2012 at 09:43 pm
Another service I have on trial right now (fairly high profile) is recommending buying MON if it pulls back to the 50ma. I will be closing my short, methinks, on any such dip.
MON already hit the 50
Posted by steve on 6th of Sep 2012 at 12:40 am
MON already hit the 50 MA which was the initial target (measured move out of the small wedge). The group was strong today (see MOS, AGU, POT) and something to watch when trading a stock in a sector. MON has consolidated allowing its 50 day MA to catch up to price and could be morphing into a triangle with another probe higher should it continue to hold above it's 50 MA. Remember what you've been taught about symmetry and volume patterns and the importance of price in relationship to all the MA's including the 50 day MA.
http://stockcharts.com/h-sc/ui?s=MON&p=D&yr=0&mn=8&dy=15&id=p65352580962&a=274416978&r=1346906003663&cmd=print
Thanks, and good point about
Posted by frtaylor on 6th of Sep 2012 at 07:03 am
Thanks, and good point about watching the sector (I hadn't been).
doesn't look like a short right now...
Posted by zach06 on 5th of Sep 2012 at 09:47 pm
Be careful of these "high Profile" newsletters... Some of them have information that is stale.