Oh,I dunno if thats a fair comparison for the market indexes. as interesting as the TM chart is...that might really be a 'special situation' of the moment....with Toyota trouble recall of vehicles, thats a massive cost and blunder at a bad time in the market. thats like lets say if there was a stock, the real estate holding company that was heavily invested in the New orleans super dome right after katrina hit...and the damage the facility took.
an odd situation.
that sort of thing.
The market indexes look forboding enough as they are, no need to liken them to toyota.
But I like your idea.I often see stocks that look to my eyes like a benchmark/barometer for the greater markets.
I have saved some of them just to look at.
how about GERN...one of Patrick Cox's biotech stocks. I feel a bit uneasy owning it right now. watching it carefully. its close to the edge. and its movements are very correlated with the s+p as you look at it.
"Whatever the reason, the eighteenth century fire-eaters, like too many magicians of the present day, kept to the stereotyped programmes of their predecessors." ~ Harry Houdini
well,I never would want to argue against tyler durden. He's my hero.
but I still say take a look at GERN right now as a good "biotech barometer"
i.e. if one likes the concept that biotech stocks can decouple from the correlation to the greater indexes,and move to their own dynamics and fundamentals... GERN is in one of those places where very soon it 'Will' or it 'Wont'.
A month and 1/2 ago it 'turned a corner' with a double bottom hold at 5.15 and made 2 waves of higher high/higher low...until january 11 when the greater market pulled it lower. the line in the sand is 6.00 (5.80 - 6.14) Right now with the market move up thrust this week, GERN has risen and hit the resistance at 5.90 and bounced down some with wednesdays pullback.
these next 2 days GERN needs to break above 5.90 and 6.00 would be better.
But just to watch what GERN does in the next several days ,I think, can give a good feel for how strong the biotech stocks are in the face of the greater market.
Because now is the time for GERN to show its strength and break upward beyond 6.00 toward 6.70 and hold strong above 6.00-6.15. Thats when I'll feel ok about owning these biotechs.
I thought to myself, "Look, I have grown and increased in wisdom more than anyone who has ruled before me; I have experienced much of wisdom and knowledge." Then I applied myself to the understanding of wisdom, and also of madness and folly, but I learned that this, too, is a chasing after the wind. ~ Ecclesiastes 1:16-17
7 comments:
Toyota (TM) technical pattern is the model for what we could see in the US equity indices (DJIA, SP500, etc)
dropped, then retest up to nearest MAvg, then drop resume:
TM chart
The Vapors
Oh,I dunno if thats a fair comparison for the market indexes. as interesting as the TM chart is...that might really be a 'special situation' of the moment....with Toyota trouble recall of vehicles, thats a massive cost and blunder at a bad time in the market.
thats like lets say if there was a stock, the real estate holding company that was heavily invested in the New orleans super dome right after katrina hit...and the damage the facility took.
an odd situation.
that sort of thing.
The market indexes look forboding enough as they are, no need to liken them to toyota.
But I like your idea.I often see stocks that look to my eyes like a benchmark/barometer for the greater markets.
I have saved some of them just to look at.
how about GERN...one of Patrick Cox's biotech stocks. I feel a bit uneasy owning it right now. watching it carefully. its close to the edge. and its movements are very correlated with the s+p as you look at it.
re: "Oh,I dunno"
Tyler @ ZeroHedge.com opined in very early January that since Alcoa's earnings marked the March-09 bottom would similarly mark the 2010 top.
Brilliant! thas what has happened.
markets rhyme
balls to the wall
"Whatever the reason, the eighteenth century fire-eaters, like too many magicians of the present day, kept to the stereotyped programmes of their predecessors."
~ Harry Houdini
.
like to buy where everything, we mean everything is coming off rock bottom?
ND.v ... Zim production and the few shares outstanding is key
Lion King - the new dawn
Tarot card X is the 'Wheel of Fortune'. A circle where at top is good fortune; bottom, misfortune. Always the circle turns.
well,I never would want to argue against tyler durden. He's my hero.
but I still say take a look at GERN right now as a good "biotech barometer"
i.e.
if one likes the concept that biotech stocks can decouple from the correlation to the greater indexes,and move to their own dynamics and fundamentals...
GERN is in one of those places where very soon it 'Will' or it 'Wont'.
A month and 1/2 ago it 'turned a corner' with a double bottom hold at 5.15 and made 2 waves of higher high/higher low...until january 11 when the greater market pulled it lower.
the line in the sand is 6.00 (5.80 - 6.14)
Right now with the market move up thrust this week, GERN has risen and hit the resistance at 5.90 and bounced down some with wednesdays pullback.
these next 2 days GERN needs to break above 5.90 and 6.00 would be better.
But just to watch what GERN does in the next several days ,I think, can give a good feel for how strong the biotech stocks are in the face of the greater market.
Because now is the time for GERN to show its strength and break upward beyond 6.00 toward 6.70 and hold strong above 6.00-6.15.
Thats when I'll feel ok about owning these biotechs.
I thought to myself, "Look, I have grown and increased in wisdom more than anyone who has ruled before me; I have experienced much of wisdom and knowledge." Then I applied myself to the understanding of wisdom, and also of madness and folly, but I learned that this, too, is a chasing after the wind.
~ Ecclesiastes 1:16-17
me trying to fill Allan's shoes
Care to elaborate on New Dawn Mining Company?
What do you mean "few shares outstanding is key"?
Looks interesting.
Let the DD begin!
Post a Comment