Apparently, there is a shortage in one of the great sugar consuming countries - India - and that has sent this market parabolic.
As they (meaning I) say, parabolic up, parabolic down. When this thing finally cracks, and don;t try to pick the top, it might be a nice zip line to ride down the mountain.
For you fundamental types, we are short Hershey in Quick Takes Pro. They use a lot of sugar, don't they? And we found it based on its own chart!
OK, technicals still work on individual stocks.
2 comments:
Mike,
I read your Barron's article. I think the timing is a bit off. What if there is a breakout above and another 10% rally? I am a great fan of your stuff. I dont want you to be proved wrong (Again!!)
I know most are saying the long-term trend is now bullish because of the 50 day/200 day EMA crossover but I was taught to look at the monthly data, or at least the weekly.
Based on the 17 week/43 week EMA we're not quite there yet.
17=934; 43=951
Although if you look at our last secular bear market in the 1970's there were tremendous bear market rallies.
The difference I think is that back then we were waxing as a nation and now we are waning.
Paul O'Cuana
Post a Comment