Whether bullish or bearish right now, just be glad you're (hopefully!) not one of those Green Mountain stock holders today., currently around 40% lower. GMCR is yet another one of those infamous momo (momentum) stocks that always eventually get destroyed - just like NFLX, and almost all of those overpriced 'social media' pieces of junk.
*ISM non-manu: 53.5 vs 56.0 expected. A weak number, and it won't please the market!
SP'60min
Not much to add right now, if it is a mini H/S, then the RS 'should' complete today, and then we fall away into the close - with a snap lower Friday morning. Its just an idea, and as ever..the 'smart/big/serious' money will be using good stops regardless.
Special bonus chart on....GMCR, daily
You can see the lunatics chased this nonsense up across the last 3 years, but such things rarely end well, and today is another important reminded that eventually...'price discovery' does happen, even in what remains an overpriced and largely deluded stock market.
More later...
*ISM non-manu: 53.5 vs 56.0 expected. A weak number, and it won't please the market!
SP'60min
Not much to add right now, if it is a mini H/S, then the RS 'should' complete today, and then we fall away into the close - with a snap lower Friday morning. Its just an idea, and as ever..the 'smart/big/serious' money will be using good stops regardless.
Special bonus chart on....GMCR, daily
You can see the lunatics chased this nonsense up across the last 3 years, but such things rarely end well, and today is another important reminded that eventually...'price discovery' does happen, even in what remains an overpriced and largely deluded stock market.
More later...
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