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In May-June of 2011, six weeks of distribution led to a weak rally off the 200 day moving average. Today shows seven weeks of heavy distirbution and the vast majority of leaders heading south. Will the next rally attempt be from the 200 day line?
hope not- the 200 is a lot flatter than it was a year ago....
I neither hope nor wish about this market - - I am inexperienced & thus learning to interpret or read it as Bill or Scott would do (I do "hope to read like them", I got a long way to go).
When I see a short list of "stocks upward on heavy volume" on IBD, on these overall down days, I put them on my watch list - - and further screen them with CAN SLIM and other criteria - - "with this no man's land" b/t the 50d and 200d mov avg.'s on major indices, does anyone see this as an opportunity to start identifying the "healthier apples on the tree as its being 'shaken down' "? ... of course then waiting for the right buy points?
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