As mentioned in my most recent Cubes (NASDAQ: QQQQ) posting, the air is thin above the $42 level, which the Cubes are now back below. Also note the new low in the Money Flow indicator. On the plus side for bulls is the late day rally that developed into the close that brought the Cubes up off the lows, as you can see from the lower shadow on today’s candle. Also on the plus side is the fact that many leading stocks that had been fallen back into their bases or been beaten back to their 20-day or 50-day EMAs started to try to bounce yesterday. See the continuation of the post to see an example.
Here we see Optelecom Inc (NASDAQ: OPTC), a very small cap I noted in my most recent Stock Ideas list. Still, if Iran heats up or earnings season, the dollar, George Bush fiascos, or interest rates turn into negative catalysts nothing will be spared, so take it easy. No time to be a hero. Cheers!
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