That's one massive haircut but it came from a news story that said that BEAS was going to buy a brand new but 5 years vacant office building and move its headquarters staff there. Obviously Mr. Market said "not a good idea" - but, what does Mr. Market know? Nothing - that's right - nothing.
If you look at BEAS on the monthly charts what do you see?
A stock coming down from a peak with a four month decline. Let's say that in the next several days BEAS recovers a bit more of the hair cut it took on Friday - what would you see then? Two spinning tops in a row. Which would suggest a stock poised to recover. So I would put that stock on my day trading watch list and on my swing trading watch list and if it began looking better I'd get some.
2 comments:
Seems a little bland.
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