Recs
June 04, 2009 – Comments (2) | RELATED TICKERS: AHD , AMWD , HUBG
If you read the news yesterday, it may sound negative but the underlying bulls and bear indicators still indicates that the bulls are still stronger.
Remember the news(bad or good) is not important but how the market reacts to the news.
See the bull-vs-bear chart here.
No offense, but you needed a chart to tell you that?
You need at least the price chart (5, 15, 30 minutes or 1 hour timeframe) to see how the stock or the index reacted to the news. More often than not, news can cause a spike to the chart and then it will drop or go sideways as it tries to digest the news. For short-term traders that uses shorter time frames this type of price actions are important to get their profit or take short-term losses.
The chart I showed (via the link above) is for the overall market and not on particular stock.
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