Generally speaking, the best place to look for returns in the market in the short-term is in the trash bin. In this case, the "trash bin" is when a stock gets "thrown out" of an index. Often times, you can get in at a very low price where the logic and reasoning for exiting a position isn't for long term considerations. Buyers hold back from buying HPQ because they knew it was coming out of the index and sellers wanted (or needed) to get out to maintain their performance to the index. Although not a significant amount of money is managed by the DJIA Index, it can have an impact. Typically this is much more of a trade from the S&P500, but I'm willing to step out on this one and take a chance. HPQ was removed on the 21st and it closed that day at $21.21.
Tim 10:15AM EST, October 2, 2013 HPQ 21.38 last
Comments
timwest
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This one worked out nicely.
QuantitativeExhaustion
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Excellent example of rounding divergence.
AlexandreFF
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I actually agree with you and the MACD seems turning up with the bb bands thank you.