I've had success trading BGU during the current unwinding of the $NASI Complex top. The overall market will continue to trend up until the end of next week. The ADX in the lower right section of the chart went up over 20 (the lavender line is now 36.75), which tells us that BGU is trending (in this case up). The Chi Oscillator also goes up when stock is trending up. The Chi Osc seems to have an up leg & then a flat leg during complex $NASI tops. I generally hold BGU overnight and sell out after the AM pop in price. I pick up more shares when the fat cats are digesting their lunch (myself included). I only expect BGU to go up about another 6-8% over the coming week, so it's more rewarding to trade than to hold. I expect the market to tank (red lines) after the complex $NASI top plays out, and then will mainly hold BGZ, FAZ, DRV & DRR.
Wednesday, August 26, 2009
BGU has been a good stock to hold or trade during this complex $NASI Top
I've had success trading BGU during the current unwinding of the $NASI Complex top. The overall market will continue to trend up until the end of next week. The ADX in the lower right section of the chart went up over 20 (the lavender line is now 36.75), which tells us that BGU is trending (in this case up). The Chi Oscillator also goes up when stock is trending up. The Chi Osc seems to have an up leg & then a flat leg during complex $NASI tops. I generally hold BGU overnight and sell out after the AM pop in price. I pick up more shares when the fat cats are digesting their lunch (myself included). I only expect BGU to go up about another 6-8% over the coming week, so it's more rewarding to trade than to hold. I expect the market to tank (red lines) after the complex $NASI top plays out, and then will mainly hold BGZ, FAZ, DRV & DRR.
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