GNBT is a fairly large triangle , I believe base, that is threatening a breakout. It shows nice accumulation on a daily chart. It is speculative at that price, but again, these are the kinds of stocks we have seen double digit one day moves in.
As for the strange market behavior of accumulating and selling and accumulating and selling, I remarked it seems they are terrified of news, well, duh.... I don't know where my mind has been, it's obviously the possibility of the Israeli strike inside Iran. Saturday is the deadline so to speak as the Russians plan to fill the newest reactor with fuel rods, which would make hitting the target exceptionally difficult due to fall-out. This also fits the pattern we've been seeing since the Russians announced it I believe last Friday, around the same time we saw this strange market accumulation/distribution pattern.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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