Tuesday, March 1, 2016

A few bunker stocks looking bad

Anyone who is spinning a narrative about the market using pure TA is going to get clobbered before they realize this has been a sentiment situation, not a technical one.

Here's something you buy if you're going to hunker down in a bunker and await the financial apocalypse:

That most certainly has broken down.

Here's another bunker stock:

Similar chart, similar overbought RSI, similar too far from its SMA(50), similar breakdown of its supporting short-term EMA.

What makes these great shorts, I think, is that so darn many people have gone long them in just the past short while. Also, their charts are screaming "breakdown" so loud even an idiot can hear it.

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