Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the disable-gutenberg domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/jwl23/public_html/rd.johnlander.me/wp-includes/functions.php on line 6131
Russian troops amassing on the – If, Then… Market Timing

Russian troops amassing on the

By Rod David | August 5, 2014 - 1:57 pm

Russian troops amassing on the Ukraine border has sent the market back down to Friday”s lows. There”s no reason to expect it to hold again, not without first being probed, and potentially by a lot.

Speculative stocks can return from dips caused by the passing threat of a market downturn. But the threat of the market to remain under pressure for multiple sessions can drive away buyers until prices discount that risk. That means lower prices, or at least returns to recent support.

I”m not bullish. I don”t think the r ecent decline”s intent is to form a more durable bottom or to launch a new rally leg. Not from these levels. But drops triggered by non-financial events can mark near-term lows. And at the risk of being too patient, recovering from one more fresh low today could be bullish in the near-term. Bouncing prematurely would be suspicious.

Following are some of this morning”s stock comments:
AGTK — Opening surge through .24 attacked .25, now requiring that today trend up to fresh highs to avoid being the peak of a corrective bounce.
GBLX — Yesterday”s late dip is being retraced somewhat, but still suggesting the 1.08 pullback target is in-play.
VAPE — Already testing its 2.87 target, requiring pullbacks now to hold 2.68 as support to maintain the rally, next targeting 3.17.
ATTBF — Pretty sure that”s a bad print at .36, and would assume today”s low is .46. In any case, closing under .47 would next target .41… and .47 support has been greatly chipped away recently.
ENRT — Bounced about as much as possible without recovering the .14 buy signal. And “despite” today”s press release announcing their intent to consider doing something in an exciting area (more of a tout than a milestone or corporate event), a plunge to fresh lows is attacking .10. There won”t be a buy signal for this pattern for quite awhile.
AGTK — Still probing back above .24. At this stage, I don”t want to see .23 touched, and would prefer the open”s surge to be enough for attracting new buyers.
TRTC — sub-.30 (target in-play)

Posted in Bigger Picture