Sunday, July 11, 2004
Today's load of crap brought to you by Yahoo. Marvel loses nearly 20 percent of it's share price (chart) in two weeks in June/July and blames it on an insider sale in March. Now you can go look at the chart.
Just so you know. I no longer own Marvel. My stop kicked and minimized my loss. I guess that's what I get for not following the rules of technical analysis. Always follow the rules. I hadn't been given the green light and tried to predict what would happen. Never try to predict what the stock market is going to do. Most times it will prove you wrong. (Of course, I really did expect a rally after the movie came out.) If you notice, the five day, never moved above the 20 day. (Close, but no cigar) Once it started heading south, it just picked up speed.
The bull goes up the steps, but the bear goes out the window. That's why stops are so important. Because Marvel lost more than 20 percent in two days, and it might go down more.
The funny thing is that the article talks about how much the stock moved up Thursday, but gave up most of that on Friday. That's what called a dead cat bounce.
Just so you know. I no longer own Marvel. My stop kicked and minimized my loss. I guess that's what I get for not following the rules of technical analysis. Always follow the rules. I hadn't been given the green light and tried to predict what would happen. Never try to predict what the stock market is going to do. Most times it will prove you wrong. (Of course, I really did expect a rally after the movie came out.) If you notice, the five day, never moved above the 20 day. (Close, but no cigar) Once it started heading south, it just picked up speed.
The bull goes up the steps, but the bear goes out the window. That's why stops are so important. Because Marvel lost more than 20 percent in two days, and it might go down more.
The funny thing is that the article talks about how much the stock moved up Thursday, but gave up most of that on Friday. That's what called a dead cat bounce.
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