Appears to be a complete pump and dump failure. I got bullish because of the buy volume the past couple of days, but it hit overbought on MFI and now is dropping. i think there's potential for it to stay oversold for a day or two when it gets there because it's dropping on much lower volume. Those that bought have to sell, and volume isn;t matching up yet.
Comment:
This is gonna be an ongoing pattern until the Euros are done selling off....
Morning selloff, then bounce after Euro markets close. I always thought the Euros had mostly futures and index funds, but it appears they have a lot of individual stocks as well. A lot of stocks that don;t normally gap down did all week.
Morning selloff, then bounce after Euro markets close. I always thought the Euros had mostly futures and index funds, but it appears they have a lot of individual stocks as well. A lot of stocks that don;t normally gap down did all week.
Market probably bounces back a bit after the Euro markets close, but I'm not even tempted to play any long positions, considering the market keeps gapping down big because of teh Euros.