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.