Tuesday, November 08, 2005

SPC (S99) to buy or not to buy!!


SPC closed up 0.020 at 5.00. Volume up more than double against the most recent period. However, it may still require 1 or 2 more increment of high volume to create the “crescendos” effect to make it sustainable. RSI was OK. CMF still require more push towards the zero line to turn it bullish. Candlestick proves effective for me in gauging the short term direction. It alarmed a bear in control of the day by its tall top shadow.
While writing now, Crude Oil, Dow and Nasdaq continue to drop. Under this averse environment, it would be unlikely than SPC will fair well tomorrow!

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