Not only did it sound like a good analysis on May 13, but also on May 14, 15, 16,..., today.
...
That's why it's not a good analysis.
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Why I made the decision to enter GM yesterday?
来源: miat42 于 09-05-13 09:29:28
If you pay attention to 3-month chart, it's not regular gap down, but comes to close to the ending of a 1.5 month slide started on March 27. From chart analysis, combined with heavy volume, it's at or near the end of the down slide. I agree with you that the long term trend may not be up, but who cares about long term when you only focus on the short term. For the short term, when the worst news (GM Executive all selling) came onto the news wire, it often marked a moment of oversold. Most media reports are focusing on the nightmare scenario for this company. That is exactly the contrarian call to buy the stock. BTW, when your plan is to trade for short term, never let fundamental cloud your decision making, fundamental becomes irrelevant for short term trading. Be also very careful, the so called short term trading is not meant to be day trading, short term can be 2 days to 2 weeks.
...
That's why it's not a good analysis.
--------------------
Why I made the decision to enter GM yesterday?
来源: miat42 于 09-05-13 09:29:28
If you pay attention to 3-month chart, it's not regular gap down, but comes to close to the ending of a 1.5 month slide started on March 27. From chart analysis, combined with heavy volume, it's at or near the end of the down slide. I agree with you that the long term trend may not be up, but who cares about long term when you only focus on the short term. For the short term, when the worst news (GM Executive all selling) came onto the news wire, it often marked a moment of oversold. Most media reports are focusing on the nightmare scenario for this company. That is exactly the contrarian call to buy the stock. BTW, when your plan is to trade for short term, never let fundamental cloud your decision making, fundamental becomes irrelevant for short term trading. Be also very careful, the so called short term trading is not meant to be day trading, short term can be 2 days to 2 weeks.
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