Re: 50/200 dma death cross upon us, and the market says 'meh' so far....
posted on
Jul 17, 2019 11:42PM
I don't completely disagree with your assessment EEC....I can see this technical event leading to some selling, like what was seen today, nothing high volume but.....'little drips' as you put it.
Nobody can say with any degree of certainty what the results of BETonMACE will be....I would put my own confidence level as high or maybe even very high, but that's just based on opinion. Others may be more cautious and may view a techincal event like a Death Cross as a signal to perhaps lessen their exposure, or perhaps even walk away entirely.
Psychology is an inexact science....but broadly speaking the volumes of this month combined with the increased level of short selling up to the most recent update, it suggests to me that by and large the big money players are holding tight, and possibly even adding as shares become available.
I can't wait for this to be over....for the results to come out and for RVX to either fly or sink. I know some still think there can be a middling market response, but I just can't envision anything other than a binary reaction. In any event the clock is ticking....this is going to be a long two to three months for me but I've already been waiting 5+ years.