Just because a retracement occurred, it does not imply a bounce or reversal.
The 1yr daily chart shows retracement for 65/135 days time frame.
Interesting to see that .786 retracement for 135 days would fill the gap.
No position, just watching and learning, just because.
Posted by
Unknown
at
7:05 PM
beanie,
Name you time frame and I will bet you that SLX or MOO will outperform PBW.
3 years from now:
PBW from 25 to 100 (hell yeah!)
SLX from 88 to 350
MOO from 53 to 210
NLR from 39 to 155
Which is more likely? PBW, back up 9 trucks.
Btw, PBW is an etf. Nothin wrong with 50% of your money in it. Just watch the sector and watch the chart for developments.
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