The "sham wow" was when the banks were largely upgraded, with many placed on GS' conviction buy list, and we were all supposed to wade in with huge purchases, right as they were issuing more equity and - The "slap chop" is what you're experiencing if you are trying to trade this range-bound, low volatility sector. You can see by looking at the weekly chart at bottom, it's still nudging along a major downtrend line, and on the daily chart, the BKX should try to stay above 34.56, and then there's that prior swing high, and then there's that red thingy, that red line, angling down toward that blue thingy, that blue line, and ..... uh, the BB midline thingy still just above, and ........ zzzzzzzzzzzzzzz. Oh! what was I saying? uh ..... I'm kinda glad I warned my readers not to jump in with all that "sham wow," and, uh, I suppose there's something important going on under the surface, if I can just stay awake long enough to - uh ....... uh, ..... zzzzzzzzzzzzzzzzzzzzzzzzz

No comments:
Post a Comment